Herbalife Nutrition Completes Reprice of Term Loan a Facility & Extends Maturity Date of Revolving Credit; Reduces Borrowing ...
19 März 2020 - 9:10PM
Business Wire
Herbalife Nutrition (NYSE: HLF), a premier global nutrition
company, announced an amendment to its existing credit agreement
that increased borrowing capacity, extended the maturity and
reduced the interest rate applicable to its $250 million Revolver
and $234 million Term Loan A facility ("Term Loan A"). Borrowing
capacity under the Revolver increased by $32.5 million to $282.5
million and the Term Loan A increased by $30.5 million to $264.8
million. The interest rate applicable to the Revolver and Term Loan
A as a result of the amendment is LIBOR plus 2.50%, a reduction of
0.50% from the previous interest rate of LIBOR plus 3.00%. The
commitment fee applicable to the undrawn portion of the Revolver is
0.35%, a reduction of 0.15%.
The maturity date for the Revolver and Term Loan A has been
extended to March 19, 2025. No changes were made to the financial
covenants.
About Herbalife Nutrition Ltd.
Herbalife Nutrition is a global company that has been changing
people's lives with great nutrition products and a proven business
opportunity for its independent distributors since 1980. The
Company offers high-quality, science-backed products, sold in over
90 countries by entrepreneurial distributors who provide one-on-one
coaching and a supportive community that inspires their customers
to embrace a healthier, more active lifestyle. Through the
Company’s global campaign to eradicate hunger, Herbalife Nutrition
is also committed to bringing nutrition and education to
communities around the world.
For more information, please visit
IAmHerbalifeNutrition.com.
The company also encourages investors to visit its investor
relations website at ir.herbalife.com as financial and other
information is updated and new information is posted.
FORWARD-LOOKING STATEMENTS
This document contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements other than statements of historical fact are
“forward-looking statements” for purposes of federal and state
securities laws, including any projections of earnings, revenue or
other financial items; any statements of the plans, strategies and
objectives of management for future operations; any statements
concerning proposed new services or developments; any statements
regarding future economic conditions or performance; any statements
of belief; and any statements of assumptions underlying any of the
foregoing. Forward-looking statements may include, among other, the
words “may,” “will,” “estimate,” “intend,” “continue,” “believe,”
“expect,” “anticipate” or any other similar words.
Although we believe that the expectations reflected in any of
our forward-looking statements are reasonable, actual results could
differ materially from those projected or assumed in any of our
forward-looking statements. Our future financial condition and
results of operations, as well as any forward-looking statements,
are subject to change and to inherent risks and uncertainties, such
as those disclosed or incorporated by reference in our filings with
the Securities and Exchange Commission. Important factors that
could cause our actual results, performance and achievements, or
industry results to differ materially from estimates or projections
contained in our forward-looking statements include, among others,
the following:
- our relationship with, and our ability to influence the actions
of, our Members;
- improper action by our employees or Members in violation of
applicable law;
- adverse publicity associated with our products or network
marketing organization, including our ability to comfort the
marketplace and regulators regarding our compliance with applicable
laws;
- changing consumer preferences and demands;
- the competitive nature of our business;
- regulatory matters governing our products, including potential
governmental or regulatory actions concerning the safety or
efficacy of our products and network marketing program, including
the direct selling markets in which we operate;
- legal challenges to our network marketing program;
- the Consent Order entered into with the FTC, the effects
thereof and any failure to comply therewith;
- risks associated with operating internationally and the effect
of economic factors, including foreign exchange, inflation,
disruptions or conflicts with our third-party importers, pricing
and currency devaluation risks, especially in countries such as
Venezuela;
- uncertainties relating to interpretation and enforcement of
legislation in China governing direct selling and
anti-pyramiding;
- our inability to obtain or maintain the necessary licenses for
our direct selling business in China and elsewhere;
- adverse changes in the Chinese economy;
- our dependence on increased penetration of existing
markets;
- any material disruption to our business caused by natural
disasters, other catastrophic events, acts of war or terrorism,
viral outbreaks (such as the COVID-19 outbreak) and other similar
epidemics, or cybersecurity incidents;
- noncompliance by us or our Members with any privacy laws or any
security breach by us or a third party involving the
misappropriation, loss, or other unauthorized use or disclosure of
confidential information;
- contractual limitations on our ability to expand our
business;
- our reliance on our information technology infrastructure and
outside manufacturers;
- the sufficiency of our trademarks and other intellectual
property rights;
- product concentration;
- our reliance upon, or the loss or departure of any member of,
our senior management team which could negatively impact our Member
relations and operating results;
- U.S. and foreign laws and regulations applicable to our
operations;
- uncertainties relating to the United Kingdom’s exit from the
European Union;
- restrictions imposed by covenants in our existing
indebtedness;
- risks related to the convertible notes;
- uncertainties relating to the application of transfer pricing,
duties, value added taxes, and other tax regulations, and changes
thereto;
- changes in tax laws, treaties or regulations, or their
interpretation;
- taxation relating to our Members;
- product liability claims;
- our incorporation under the laws of the Cayman Islands;
- whether we will purchase any of our shares in the open markets
or otherwise; and
- share price volatility related to, among other things,
speculative trading and certain traders shorting our common
shares.
Additional factors that could cause actual results to differ
materially from our forward-looking statements are set forth in
this Annual Report on Form 10-K, including under the heading “Risk
Factors,” “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” and in our Consolidated
Financial Statements and the related Notes.
We do not undertake any obligation to update or release any
revisions to any forward-looking statement or to report any events
or circumstances after the date hereof or to reflect the occurrence
of unanticipated events.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200319005753/en/
Media Contact: Jennifer Butler Vice President, Media
Relations 213-745-0420
Investor Contact: Eric Monroe Director, Investor
Relations 213-745-0449
Herbalife (NYSE:HLF)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Herbalife (NYSE:HLF)
Historical Stock Chart
Von Jul 2023 bis Jul 2024