Focus Financial sets $300 million add-on term loan B OID at 99.75

By Sara Rosenberg

New York, July 22 – Focus Financial Partners Inc. firmed the original issue discount on its fungible $300 million add-on term loan B at 99.75, the tight end of the 99.5 to 99.75 talk, according to a market source.

Pricing on the add-on term loan is Libor plus 250 basis points with a 0% Libor floor.

The add-on term loan has 101 soft call protection for six months.

RBC Capital Markets, BMO Capital Markets, BofA Securities Inc., SunTrust Robinson Humphrey Inc., Capital One, KKR Capital Markets, Fifth Third, Goldman Sachs Bank USA, MUFG and Regions Bank are the joint lead arrangers on the deal.

Commitments are due at 5 p.m. ET on Tuesday, accelerated from noon ET on Thursday, the source added.

Proceeds will be used to repay revolving credit facility borrowings.

Closing is expected this month.

Focus Financial is a New York-based partnership of independent, fiduciary wealth management firms.

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