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Focus Financial Partners Announces Launch of New 7-Year Term Loan Tranche in Anticipation of Record Acquisition Volume
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Focus Financial Partners Increases Term Loan Facility Size in Heavily Oversubscribed Transaction, Increasing Financial Flexibility
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NEW YORK, NY / ACCESSWIRE / January 19, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ( Focus ), a leading partnership of independent, fiduciary wealth management firms, announced today that it is launching a transaction to increase the size of its First Lien Term Loan ( Term Loan ) by $375 million. Focus expects to close this transaction in January 2021 and use the proceeds to repay outstanding borrowings under its $650 million First Lien Revolver ( Revolver ). There will be no change to the existing terms of the Revolver as a result of this reduction in borrowings. As of December 31, 2020, the balances outstanding under Focus Term Loan and Revolver were approximately $1.13 billion and $380 million, respectively.