Herbalife launches $733.1 million term loan B at Libor plus 250 bps

By Sara Rosenberg

New York, Feb. 3 – Herbalife Nutrition Ltd. was scheduled to hold a lender call at noon ET on Wednesday to launch a $733,125,000 senior secured first-lien term loan due August 2025 with price talk of Libor plus 250 basis points with a 0% Libor floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Jefferies LLC is the lead arranger on the deal.

Consents and new money commitments are due at 4 p.m. ET on Monday, the source added.

Proceeds will be used to reprice an existing term loan down from Libor plus 275 bps with a 0% Libor floor.

Herbalife is a Los Angeles-based nutrition and weight management company.

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