Herbalife secures $1.45B loan
Herbalife has secured a $1.45 billion senior secured credit facility, The Post has learned.
Under terms of the loan, the Los Angeles nutritional supplement company will be able to access $150 million for working capital, according to a term sheet obtained by The Post. The remaining $1.3 billion will be used for general corporate purposes, share repurchases over the next 18 months and transaction costs.
Credit Suisse and Rabobank acted as joint bookrunners on the transaction. The new facility replaces an Herbalife credit facility that was set to expire next month. The working capital loan matures in 2022 and the term loan matures in 2023.