Latham & Watkins Advises on Herbalife Nutrition’s US$250 Million Aggregate Principal Amount of Convertible Senior Note Offering

Herbalife Nutrition Ltd. (NYSE: HLF) has announced the pricing of its offering of US$250 million aggregate principal amount of convertible senior notes due 2028 in a private offering to persons reasonably believed to be qualified institutional buyers, pursuant to Rule 144A under the Securities Act of 1933. The Convertible Notes will pay interest semiannually at a rate of 4.25% per annum and upon conversion, the Convertible Notes will be settled in cash and, if applicable, the Company’s common shares, based on the applicable conversion rate at such time. In addition, the Company granted the initial purchasers of the Convertible Notes an option to purchase, for settlement within a period of 13 days from, and including, the date the Convertible Notes are first issued, up to an additional US$37.5 million principal amount of Convertible Notes. The Company expects to close the sale of the Convertible Notes on or about December 9, 2022, subject to the satisfaction of various customary closing conditions.

Latham & Watkins LLP represents the initial purchasers in the offering with a capital markets team led by partners Greg Rodgers and Nathan Ajiashvili, with associates Andrew Blumenthal, Katie Lovejoy, Ryan Gold, MacLane Taggart, Andrew Bentz, and Shira Mendelsohn. Advice was also provided on tax matters by New York partner Bora Bozkurt, with associate Michael Yu.