Focus Financial Partners Reprices Term Loan and Reduces Borrowing Costs
Focus Financial Partners Inc. (FOCS)
Last focus financial partners inc. earnings: 2/20 07:00 am
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Source: GlobeNewswire
NEW YORK, Jan. 16, 2020 (GLOBE NEWSWIRE) -- Focus Financial Partners Inc. (NASDAQ: FOCS) (“Focus”), a leading partnership of independent, fiduciary wealth management firms, announced today that it has successfully repriced the interest rate applicable to its First Lien Term Loan. In an oversubscribed transaction, Focus will reduce the rate from LIBOR + 2.50% to LIBOR + 2.00% with an expected closing later this month. There will be no changes to any of the terms of its First Lien Revolver as a result of this repricing. “We took advantage of the oversubscribed demand for our credit profile and the institutional lending community’s confidence in our business model to reduce our cost of debt,” said Jim Shanahan, Chief Financial Officer of Focus. “We are focused on prudently managing our costs as our business grows, and continue to strengthen our capital structure as part of our overall strategy to maximize shareholder value.” About Focus Financial Partners Inc. Focus Financial Partne
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