LOS ANGELES - Herbalife Ltd. (NYSE: NYSE:HLF), a global health and wellness company, has commenced the process of refinancing its 2018 Term Loan B, which is due in August 2025. As of the end of 2023, the outstanding amount under the Term Loan B was $650.6 million. This refinancing initiative is a part of the company's broader strategy to restructure its debt, aiming for $1.2 billion in secured financing along with a $400 million revolving credit facility.
The planned financial restructuring is intended to repay existing obligations, including the Term Loan A, Term Loan B, the revolving credit facility, and partially address the 2025 Senior Notes. Last week, Herbalife repaid its 2024 Convertible Notes in full, utilizing $108.6 million in cash and $91.0 million from its revolving credit facility.
Details of the proposed refinancing transactions are yet to be disclosed and will be made public upon completion. The refinancing is subject to standard closing conditions, and there is no guarantee of its successful completion.
Herbalife, established in 1980, has been offering nutrition products and a business opportunity for independent distributors. The company operates in over 90 markets, providing products backed by scientific research, along with personal coaching and community support for a healthier lifestyle.
The information in this article is based on a press release statement and does not constitute an endorsement of Herbalife's claims or business practices. The company's forward-looking statements regarding its refinancing plans are subject to various risks and uncertainties, and actual outcomes may differ materially from those projected.
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