Kyle Bass landed another body blow to Bill Ackman in their battle over Herbalife Ltd. (NYSE:HLF) on Wednesday. He claimed in an interview that Herbalife will soon complete their three-year audit and be able to borrow $2 billion to buy back stock.

Kyle Bass

Bass, founder of Hayman Capital Management LP, and Ackman, founder of Pershing Square Capital Management, are among a handful of hedge fund titans dueling over the fate of nutritional supplement maker Herbalife Ltd. (NYSE:HLF). Ackman claims Herbalife is a “pyramid scheme” and has a significant open short position on the company.

Kyle Bass appeared on Bloomberg TV

The battle over Herbalife Ltd. (NYSE:HLF) picked up again as Kyle Bass, whose Hayman Capital Management owns a significant long position in Herbalife, appeared in an interview on Bloomberg TV on Wednesday.

Bass focused on the potential for large-scale stock buybacks in the relatively near future after Herbalife’s three-year audit is complete soon. “They will be able to borrow $1.5 billion to $2 billion and buy back a lot of stock,” he said, also throwing in that Herbalife generates “significant” cash flows, has no debt and continues to grow.

Kyle Bass’ investment perspective on Herbalife

He summarized his perspective on Herbalife Ltd. (NYSE:HLF) as an investment. “We’re catalyst-driven investors and in this case the catalyst is coming in the next 60 days when they have their three-year audit done.”

Herbalife Ltd. (NYSE:HLF) shares are trading at $75.28, down 65 cents, as of 12:41 PM ET Thursday.