Shares of Herbalife Ltd. (HLF) are climbing about 5 percent on Tuesday morning trading after the company announced preliminary results for the first quarter and proposed offering of $800 million of senior secured notes.
The company's shares are currently trading at $16.34 on the New York Stock Exchange, up 5.22 percent. The stock opened at $16.01 and has climbed as high as $17.09 so far today. Over the past year, it has traded between $6.20 and $20.40.
During the quarter, the company expects net sales growth of 7.5% to 8.0% year-over-year, exceeding the high end of previously issued first quarter guidance. Meanwhile, it intends to use the proceeds from offering together with proceeds from the refinancing of the company's existing senior secured credit facility, to repay debt.
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