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Herbalife reduces borrowing costs

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Herbalife reduces borrowing costs

Herbalife reduces borrowing costs

|About: Herbalife Nutrition Ltd. (HLF)|By: , SA News Editor 

Herbalife Nutrition (NYSE:HLFamends its existing credit agreement that reduces the interest rate applicable to its $743M term loan B facility ("Term Loan B").

Following amendment, the interest rate applicable is LIBOR plus 2.75%, a reduction of 0.50% from the previous interest rate of LIBOR plus 3.25%.

The lower interest rate will save the Company ~$20M in interest costs. The maturity date for the Term Loan B remains August 18, 2025 and no changes were made to the financial covenants or scheduled amortization.

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