Bloomberg reported, citing a person with knowledge of the deal, that Hostess Brands, the maker of Twinkies owned by Apollo Global Management and Metropoulos, is seeking $1.225 billion of loans to refinance debt and pay a dividend.
Bloomberg said the loans include an $825 million first-lien portion and $400 million of second-lien, said the person, who asked not to be identified citing lack of authorization to speak publicly on the matter.
Bloomberg noted that Credit Suisse Group AG is arranging the financing, with a bank meeting scheduled for July 16. Hostess filed for bankruptcy in 2012. As it was liquidated, Apollo and Metropoulos said in January 2013 that they were buying assets from the snack-cake business for about $410 million.
Access the full Bloomberg report here.