Herbalife Ltd. announced it expects to complete the previously announced $1.2 billion secured refinancing, which includes a $400 million, 5-year senior secured Term B Loan facility, by April 12. Herbalife also plans to refinance its current $300 million senior secured revolving credit facility, which matures in March 2025 with a $400 million, 4-year senior secured revolving credit facility.
“We are pleased that this transaction will allow us to remain focused on positioning Herbalife for continued growth and returning value to our shareholders,” said John DeSimone, Herbalife Chief Financial Officer.
The company announced it plans to use the proceeds from refinancing to repay its 2018 Term Loan A, Term Loan B and revolving credit facility, as well as a portion of its 2025 Senior Notes.
