Herbalife Nutrition Ltd., HLF Financing Sarl, LLC, Herbalife International, Inc., and Herbalife International Luxembourg S.À R.L. Enters into A Third Amendment to the Credit Agreement
February 11, 2021 at 06:15 am EST
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Herbalife Nutrition Ltd., HLF Financing SaRL, LLC, Herbalife International Inc., and Herbalife International Luxembourg S.à R.L. (“HIL” and, collectively with Herbalife Nutrition, HLF Financing and HII, the “Borrowers”), certain subsidiaries of the Borrowers party thereto as guarantors, the lenders party thereto, and Jefferies Finance LLC, as administrative agent for the lenders under the term loan B facility and as collateral agent (“Jefferies”), entered into a third amendment (the “Third Amendment”) to the Credit Agreement dated as of August 16, 2018 among the Borrowers, the lenders party thereto, Jefferies, and Coöperatieve Rabobank U.A., New York Branch, as administrative agent for the lenders under the term loan A facility and the revolving credit facility (the “Credit Agreement”). Pursuant to the Third Amendment, among other things, the interest rate for borrowings under the term loan B facility under the Credit Agreement will be reduced to either the eurocurrency rate plus a margin of 2.50%, or the base rate plus a margin of 1.50%.
Herbalife Ltd. is a global nutrition company. The Company sells weight management; targeted nutrition; energy, sports and fitness; and other nutrition products to and through a network of independent members (Members). Its products include meal replacements, protein shakes, teas, aloes, high-protein snacks, vitamins and supplements, sports nutrition and outer nutrition products. The Company offers a range of meal replacement products, such as protein shakes, bars and soups. Its snack portfolio includes a variety of sweet, savory and creamy options, such as high protein iced coffee, protein bars, snack shakes, soups, baking mixes and others. Its Herbal Aloe Concentrate is a beverage formulated with aloe vera, which can be mixed with water, tea or protein shake. It has also developed a portfolio of dietary supplements, encompassing solutions for heart health, digestive health, immunity and others. It sells products in 95 markets across the world.
Herbalife Nutrition Ltd., HLF Financing Sarl, LLC, Herbalife International, Inc., and Herbalife International Luxembourg S.À R.L. Enters into A Third Amendment to the Credit Agreement