Herbalife Gets $700M Loan

Nutrition and weight management company, Herbalife, has secured a $700 million senior secured revolving credit facility due on March 9, 2016.

Nutrition and weight management company, Herbalife, has secured a $700 million senior secured revolving credit facility due on March 9, 2016. The new facility was arranged by Bank of America Merrill Lynch and JP Morgan Securities as joint lead arrangers and joint book managers.

HSBC, Key Bank, Union Bank, Wells Fargo Bank, ING and Comerica were the other participating lenders. The loan replaces a $300 million senior secured credit facility secured in July 2006 that initially included a $100 million revolving credit facility and a $200 million term loan due to mature in 2012 and 2013, respectively.

Click here for the release from Herbalife.