General Nutrition launches $1.18 billion loan at Libor plus 350 bps

By Sara Rosenberg

New York, Feb. 8 - General Nutrition Centers Inc. launched its $1.18 billion credit facility on Tuesday with price talk of Libor plus 350 basis points, according to sources.

The facility consists of an $80 million five-year revolver and a $1.1 billion seven-year term loan B.

The revolver has no Libor floor and is being offered at an original issue discount of 99, and the term loan B has a 1.25% Libor floor and a discount of 991/2, sources said.

JPMorgan and Goldman Sachs are the lead banks on the deal.

Proceeds will be used to refinance existing debt.

General Nutrition Centers is a Pittsburgh-based specialty retailer of nutritional products, including vitamin, mineral, herbal and other specialty supplements and sports nutrition, diet and energy products.

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