Herbalife talks $400 million eight-year notes to yield 7¼% to 7½%, pricing Thursday

By Paul A. Harris

Portland, Ore., Aug. 9 – Herbalife Nutrition Ltd. talked its $400 million offering of eight-year senior notes (B1/BB-) to yield 7¼% to 7½%, according to market sources.

Official talk comes tighter than initial guidance in the mid-to-high 7% area.

Books were scheduled to close at 11:30 a.m. ET Thursday and the Rule 144A and Regulation S for life deal is set to price later in the day.

Jefferies LLC is the left bookrunner. Rabo Securities, Citigroup Global Markets Inc., Citizens Bank, Fifth Third Bank and Mizuho Securities are the joint bookrunners. Capital One and Commerz are the co-managers.

The notes come with three years of call protection.

The issuing entities are HLF Financing Sarl and HLF Financing US, LLC.

The Los Angeles-based nutrition company plans to use the proceeds, along with its concurrent term loans A and B, to refinance its existing credit facility.

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