(Reuters) - Herbalife (HLF.N) said it plans to change its corporate name, refinance debt and effect a 2-for-1 stock split as part of initiatives to boost shareholder returns.
Herbalife intends to change its name to ‘Herbalife Nutrition Ltd’ and is seeking to refinance a portion of its $1.15 billion outstanding convertible notes due Aug. 15, 2019.
The company said it also intends to pursue a “modified Dutch auction” tender offer seeking to purchase between $450 million and up to $650 million of shares of its outstanding common stock.
Reporting by Vibhuti Sharma in Bengaluru; Editing by Saumyadeb Chakrabarty