Herbalife Announces New $700 Million Credit Facility (HLF)

Herbalife HLF today announced that it has entered into a new $700 million senior secured revolving credit facility.

The new five year facility matures on March 9, 2016. This new facility was arranged by Bank of America Merrill Lynch and JP Morgan Securities LLC as joint lead arrangers and joint book managers. Banks included in the new facility are Bank of America N.A. as Administrative Agent, JP Morgan Chase Bank N.A. as Syndication Agent and Rabobank International as Documentation Agent. Other participating lenders include HSBC, Key Bank, Union Bank, Wells Fargo Bank, ING and Comerica. The new facility replaces a $300 million senior secured credit facility entered into in July 2006 that was originally comprised of a $100 million revolving credit facility (which was later amended in 2007 to increase the revolver capacity by $150 million to $250 million) and a $200 million term loan due to expire in 2012 and 2013, respectively.