Latham Advises on Herbalife’s Completed US$1.45 Billion Senior Secured Refinancing
Herbalife Ltd. (NYSE: HLF) (the Company), a premier health and wellness company, community, and platform, has announced the closing of the previously announced private offering by HLF Financing SaRL, LLC and Herbalife International, Inc., each a wholly owned subsidiary of the Company, of US$800 million aggregate principal amount of 7.750% senior secured notes due May 2033.
Concurrently with the issuance of the 2033 senior secured notes, the Company amended its 2024 senior secured credit facility (the 2024 credit facility). The amendments to the 2024 credit facility, among other things, refinanced and replaced in full the 2024 credit facility with a US$225 million senior secured term loan A and a US$425 million senior secured revolving credit facility, both maturing in April 2031.
Latham & Watkins LLP represented the initial purchasers and lenders in the transaction with a team led by partners Marc Jaffe, Nathan Ajiashvili, Erika Weinberg, and Jesse Sheff, with associates Paul Lau, Aditi Sharma, Justin Deuell, Christian DeSimone, and Danielle Stobie* with assistance from Eva Gu.
* Admitted to practice in England and Wales only.