Bill Ackman: Herbalife Implosion Coming in 2015

The transcript discusses the perceived reduction in risk due to company performance and government investigations. It outlines the management strategy involving extending put options into 2016, anticipating a company implosion by early 2016. The company faces significant debt due in March 2016, with challenges in refinancing due to lack of hard assets and prior government investigations.

What challenges does the company face regarding refinancing its credit facility?

What advice would the speaker give to lenders considering the company's situation?