Herbalife announces $250M convertible senior notes offering due 2028

HERBALIFE LTD.

Offering of $250M aggregate principal amount of convertible senior notes due 2028, plus option for initial purchasers to buy up to $37.5M additional.
Proceeds used to repurchase a portion of existing 2.625% convertible notes due 2024 and for general corporate purposes.
Notes will be senior unsecured obligations, settle in cash and common shares upon conversion, pay semiannual interest.
Maturity date June 15, 2028; redeemable at Company's option on or after June 15, 2026 under certain conditions.
Offering is private under Rule 144A; notes and conversion shares not registered under Securities Act.

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