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Hain Celestial enters into $1.3B unsecured credit facility

Hain Celestial Group Inc. announced Feb. 7 that it entered into a $1.3 billion unsecured credit facility led by Bank of America Merrill Lynch and Wells Fargo Bank.

The U.S. organic and vegetarian food maker said the borrowing consists of a $1 billion revolving credit facility and a $300 million term loan, both due February 2023. The revolving credit facility could be increased by $400 million, subject to the company meeting certain debt obligations.

Hain Celestial, which reportedly attracted a possible takeover bid by Nestlé SA in 2017, said the new financing would allow it to maintain operating flexibility and support its strategic growth initiatives.