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Herbalife Nutrition Completes Term Loan B Repricing; Reduces Borrowing CostsHerbalife Nutrition (NYSE: HLF), a premier global nutrition company, announced an amendment to its existing credit agreement that reduces the interest rate applicable to its $743 million term loan B facility ("Term Loan B"). The interest rate applicable to the Term Loan B as a result of the amendment is LIBOR plus 2.75%, a reduction of 0.50% from the previous interest rate of LIBOR plus 3.25%. Excluding the costs of the transaction and future principal payments, the lower interest rate will save the Company approximately $20 million in interest costs through the maturity of the Term Loan B. "The favorable credit market and Herbalife Nutrition's improved credit profile have enabled us to reduce our cost of debt. Continuing to improve our capital structure remains a key focus as part of our overall strategy to deliver value to our shareholders," said Bosco Chiu, chief financial officer, Herbalife Nutrition. The maturity date for the Term Loan B remains August 18, 2025 and no changes were made to the financial covenants or scheduled amortization. About Herbalife Nutrition Ltd. Herbalife Nutrition is a global company that has been changing people's lives with great nutrition products and a proven business opportunity for its independent distributors since 1980. The Company offers high-quality, science-backed products, sold in over 90 countries by entrepreneurial distributors who provide one-on-one coaching and a supportive community that inspires their customers to embrace a healthier, more active lifestyle. Through the Company's global campaign to eradicate hunger, Herbalife Nutrition is also committed to bringing nutrition and education to communities around the world. For more information, please visit IAmHerbalifeNutrition.com. The company also encourages investors to visit its investor relations website at ir.herbalife.com as financial and other information is updated and new information is posted. Forward Looking Statements> This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA"). All such statements in this release, other than statements of historical fact, could be deemed forward-looking statements and as such are intended to be covered by the safe harbor for "forward-looking statements" provided by the PSLRA. Without limiting the foregoing, statements including the words "expect," "intend," "will," "plan," "anticipate," "believe," "we are confident that," "forecast," "guidance," "outlook," "goals," and similar expressions are intended to identify forward-looking statements. These forward-looking statements could include but are not limited to statements related to our expectations generally regarding our market positioning, future business performance and capabilities and financial results. Our actual results and other events could differ materially from any forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties. These risks and uncertainties include, among other things:
The forward-looking statements should be considered in light of these risks and uncertainties. All forward-looking statements in this release are based solely on information available to us on the date of this release, and we undertake no obligation and do not intend to update these forward-looking statements View source version on businesswire.com: https://www.businesswire.com/news/home/20191212005835/en/ |