General Nutrition ups term loan to $1.2 billion, lowers pricing

By Sara Rosenberg

New York, Feb. 28 - General Nutrition Centers Inc. increased its seven-year term loan B to $1.2 billion from $1.1 billion and reduced pricing to Libor plus 300 basis points from Libor plus 350 bps, according to a market source.

In addition, the original issue discount on the term loan B was tightened to 99¾ from 99½ and 101 soft call protection for one year was added, the source said.

The 1.25% Libor floor was left unchanged.

The company's now $1.28 billion credit facility (B1/B+), up from $1.18 billion, also includes an $80 million five-year revolver.

J.P. Morgan Securities LLC and Goldman Sachs& Co. 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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