LOS ANGELES -- (Business Wire)
Herbalife Ltd. (NYSE: HLF) today announced the closing of the third
amendment of its existing syndicated credit agreement, dated as of March
9, 2011, with Bank of America Merrill Lynch as Administrative Agent.
As of March 31, 2015, the company had $500 million drawn on its
revolving credit facility and a $325 million balance on its term loan.
The amendment restates the existing credit agreement to, among other
things, extend the maturity of $425 million of the revolving credit
facility from March 9, 2016 until March 9, 2017. No changes were made to
the maturity date of the company’s term loan, which will mature on March
9, 2016.
Among other conditions, the company will make principal payments of
approximately $51 million on the revolving credit facility and $20
million on the term loan upon closing of the amendment, and stepdown the
balance of the revolving credit facility to $425 million with an
additional payment in September 2015.
About Herbalife Ltd.
Herbalife Ltd. (NYSE:HLF) is a 35-year-old global nutrition company that
sells weight-management, nutrition and personal care products intended
to support a healthy lifestyle. Herbalife products are sold in more than
90 countries to and through a network of independent distributors. The
company supports the Herbalife Family Foundation and its Casa Herbalife
program to help bring good nutrition to children. Herbalife's 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.
Contacts:
Herbalife Ltd.
Media Contact:
Julian Cacchioli,
213-745-0519
or
Investor Contact:
Alan Quan,
213-745-0541
Source: Herbalife Ltd.
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