Herbalife Ltd. announced it is in the process of completing its previously announced $1.2 billion secured refinancing, which is expected to include a $400 million, 5-year senior secured Term Loan B facility. In addition, the Company intends to refinance its current $330 million senior secured revolving credit facility maturing in March 2025, with a $400 million, 4-year senior secured revolving credit facility. The Company expects to use the proceeds from the refinancings to repay its 2018 Term Loan A, Term Loan B, and revolving credit facility, as well as a portion of the 2025 Senior Notes.

The terms of the proposed refinancing transactions will be disclosed upon completion of the transactions. The proposed refinancing transactions are expected to close on April 12, 2024, subject to customary closing conditions. There can be no assurance that any of the refinancings will occur successfully, or at all.