Herbalife receives consents to amend 11¾% notes

New York, Nov. 24 - Herbalife International, Inc. said it received the necessary consents to amend its $160 million 11¾% series B senior subordinated notes due 2010.

By the consent deadline of 5 p.m. ET on Nov. 24, the company had received consents from holders of 99.1% of the notes.

The consent solicitation is to eliminate substantially all of the restrictive covenants and certain events of default. The company has executed a supplementary indenture but it will not become operative until the tender offer is completed.

The tender continues to midnight ET on Dec. 20.

Pricing for the tender will be set at 2 p.m. ET on Dec. 6.

Holders who tender after the consent date will not receive the consent payment of $40 per $1,000 principal amount.

Herbalife is a Los Angeles-based network marketing company offering weight management products, nutritional supplements and personal care products.

Morgan Stanley (800 624-1808 or collect at 212 761-1457, attention: Riccardo Cumerlato) and Merrill Lynch & Co. (888 ML4-TNDR or collect at 212 449-4914) are dealer managers. MacKenzie Partners, Inc. is the information agent (212 929-5500).

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