Herbalife International
April 29, 2026
LOS ANGELES, Calif. -- April 29, 2026
Herbalife said it has closed a senior secured refinancing totaling about 1.45 billion dollars, issuing 800 million dollars of 7.750% senior secured notes due May 2033 and amending its credit facility into a 225 million dollar Term Loan A and a 425 million dollar revolving credit facility, both maturing in April 2031.
The company said it used net proceeds, revolving borrowings and cash to repay the 365 million dollar balance on its 2024 Term Loan B and to redeem in full the 800 million dollars of 12.250% senior secured notes due 2029 at 106.125% of principal, plus accrued interest. About 200 million dollars was drawn on the new revolver at closing. CFO John DeSimone said the deal is expected to cut annual cash interest expense by about 45 million dollars and extends the maturity profile.
The new notes pay interest semi-annually beginning November 1, 2026, and are non-callable for three years. The Term Loan A and revolver initially bear interest at SOFR plus 3.00%, with a spread that can range from 2.50% to 3.25% based on leverage.