Herbalife Completes $1.45b Senior Secured Refinancing Deal

Herbalife Ltd. completed a $1.45 billion senior secured refinancing that is expected to save the company approximately $45 million in annual cash interest costs.

• The transaction included $800 million of 7.750% senior secured notes due 2033
• Amended facility includes $225 million term loan and $425 million revolving facility
• Proceeds were used to repay existing debt including $800 million of 12.250% notes
• The 2033 notes are non-callable for three years with semi-annual interest payments
• Approximately $200 million was outstanding under the revolving credit facility after refinancing

To view the source of this information, click here

To contact the reporter on this ...