Golden Hippo to launch $280 million credit facilities on Monday

By Sara Rosenberg

New York, June 13 – Golden Hippo (Altern Marketing LLC) is scheduled to hold a bank meeting on Monday to launch $280 million of credit facilities, according to a market source.

Barclays and Macquarie Capital (USA) Inc. are the lead arrangers on the deal.

The facilities consist of an up to $30 million revolver and a $250 million six-year first-lien term loan B, the source said.

Amortization on the term loan is 7.5% in years one and two and 10% per annum thereafter, with a bullet at maturity.

The debt includes a leverage covenant.

Proceeds will be used to fund the cash consideration to shareholders in connection with the company’s contemplated sale to an Employee Stock Ownership Plan and to pay related fees and expenses.

Total opco leverage is 2.7x, the source added.

Golden Hippo is a Woodland Hills, Calif.-based developer and distributor of branded health & wellness and beauty products.

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