LOS ANGELES -- (Business Wire)
Herbalife Ltd. (NYSE: HLF), a global nutrition company, today announced
that it has closed a new $1.45 billion senior secured credit facility,
which consists of a $150 million revolving credit facility maturing 2022
and a $1.3 billion term loan maturing 2023.
“This credit facility affords us the financial flexibility to continue
to create long-term value for our shareholders, capitalize on our solid
business fundamentals, and realize our global market potential,” said
Herbalife Chief Financial Officer John DeSimone. “We thank our banking
partners for their confidence and commitment in Herbalife Nutrition.”
Credit Suisse acted as administrative agent for the new term loan and
collateral agent for the credit facility, Rabobank acted as
administrative agent for the revolving credit facility, and Citizens
Bank, N.A. acted as documentation agent for the credit facility. Credit
Suisse and Rabobank acted as joint book runners and joint lead arrangers
of the transaction. The new facility replaces Herbalife’s senior secured
revolving credit facility which was due to mature in March 2017.
About Herbalife:
Herbalife is a global nutrition company that has been changing people's
lives with great products since 1980. Our nutrition, weight-management,
energy and fitness and personal care products are available
exclusively to and through dedicated Herbalife Independent Members in
more than 90 countries. We are committed to fighting the worldwide
problems of poor nutrition and obesity by offering high-quality
products, one-on-one coaching with an Herbalife Member and a community
that inspires customers to live a healthy, active life.
We support the Herbalife Family Foundation (HFF) and its Casa
Herbalife programs to help bring good nutrition to children in need. We
also sponsor more than 190 world-class athletes, teams and events around
the globe, including Cristiano Ronaldo, the LA Galaxy and champions in
many other sports.
The company has over 8,000 employees worldwide, and its shares are
traded on the New York Stock Exchange (NYSE: HLF) with net sales of $4.5
billion in 2015. The Herbalife website contains a significant amount of
financial and other information about the company at http://ir.Herbalife.com.
The company encourages investors to visit its website from time to time,
as information is updated and new information is posted. To learn more,
visit Herbalife.com or IAmHerbalife.com.
FORWARD-LOOKING STATEMENTS
This document contains “forward-looking statements” within the meaning
of the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Although we believe that the expectations reflected
in any of our forward-looking statements are reasonable, actual results
could differ materially from those projected or assumed in any of our
forward-looking statements. Our future financial condition and results
of operations, as well as any forward-looking statements, are subject to
change and to inherent risks and uncertainties, such as those disclosed
or incorporated by reference in our filings with the Securities and
Exchange Commission. Important factors that could cause our actual
results, performance and achievements, or industry results to differ
materially from estimates or projections contained in our
forward-looking statements include, among others, the following:
-
our relationship with, and our ability to influence the actions of,
our Members;
-
improper action by our employees or Members in violation of applicable
law;
-
adverse publicity associated with our products or network marketing
organization, including our ability to comfort the marketplace and
regulators regarding our compliance with applicable laws;
-
changing consumer preferences and demands;
-
the competitive nature of our business;
-
regulatory matters governing our products, including potential
governmental or regulatory actions concerning the safety or efficacy
of our products and network marketing program, including the direct
selling market in which we operate;
-
legal challenges to our network marketing program;
-
the consent order entered into with the FTC, the effects thereof and
any failure to comply therewith;
-
risks associated with operating internationally and the effect of
economic factors, including foreign exchange, inflation, disruptions
or conflicts with our third party importers, pricing and currency
devaluation risks, especially in countries such as Venezuela;
-
uncertainties relating to interpretation and enforcement of
legislation in China governing direct selling;
-
our inability to obtain the necessary licenses to expand our direct
selling business in China;
-
adverse changes in the Chinese economy;
-
our dependence on increased penetration of existing markets;
-
contractual limitations on our ability to expand our business;
-
our reliance on our information technology infrastructure and outside
manufacturers;
-
the sufficiency of trademarks and other intellectual property rights;
-
product concentration;
-
our reliance upon, or the loss or departure of any member of, our
senior management team which could negatively impact our Member
relations and operating results;
-
U.S. and foreign laws and regulations applicable to our international
operations;
-
restrictions imposed by covenants in our credit facility;
-
uncertainties relating to the application of transfer pricing, duties,
value added taxes, and other tax regulations, and changes thereto;
-
changes in tax laws, treaties or regulations, or their interpretation;
-
taxation relating to our Members;
-
product liability claims;
-
our incorporation under the laws of the Cayman Islands;
-
whether we will purchase any of our shares in the open markets or
otherwise; and
-
share price volatility related to, among other things, speculative
trading and certain traders shorting our common shares.
We do not undertake any obligation to update or release any revisions to
any forward-looking statement or to report any events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events, except as required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170215005675/en/
Contacts:
Herbalife Ltd.
Jen Butler, 213-745-0420
VP, Media Relations
jenb@herbalife.com
or
Investor
Contact:
Alan Quan, 213-745-0541
VP, Investor Relations
alanqu@herbalife.com
Source: Herbalife Ltd.
© 2024 Canjex Publishing Ltd. All rights reserved.