WINSTON-SALEM, N.C.--(BUSINESS WIRE)--May 3, 2016--
HanesBrands (NYSE: HBI) today set the pricing of its unregistered
offering of $1.8 billion aggregate principal amount senior notes. The
notes will consist of $900 million aggregate principal amount of 4.625
percent senior notes due 2024 and $900 million aggregate principal
amount of 4.875 percent senior notes due 2026 offered in a private
offering that is exempt from registration under the Securities Act of
1933, as amended. The notes will be senior unsecured obligations of
HanesBrands.
HanesBrands intends to use the net proceeds from the offering to redeem
in full its existing 6.375 percent senior notes due 2020 in accordance
with their terms and to repay a portion of the indebtedness outstanding
under its revolving credit facility and pay related fees and expenses.
The aggregate principal amount of notes to be issued in the previously
announced offering increased from $1.5 billion to $1.8 billion. The
incremental proceeds from the increase in the offering size will be used
to repay outstanding borrowings under the company’s revolving credit
facility.
The notes and the related guarantees will be offered in the United
States to persons reasonably believed to be qualified institutional
buyers pursuant to Rule 144A under the Securities Act and to non-U.S.
persons in reliance on Regulation S under the Securities Act. The offer
and sale of the notes and the related guarantees have not been
registered under the Securities Act or the securities laws of any state
or other jurisdiction and may not be offered or sold absent registration
or an applicable exemption from the registration requirements under the
Securities Act and any applicable securities laws of any state or other
jurisdiction.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any of the notes, nor shall there be
any sale of the notes in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. This
press release is being issued pursuant to and in accordance with Rule
135(c) under the Securities Act.
Cautionary Statement Concerning Forward-Looking
Statements
Statements in this press release that are not statements of historical
fact are forward-looking statements within the meaning of Section 27A of
the Securities Act and Section 21E of the Securities Exchange Act of
1934, as amended, including those regarding the offering of notes and
the anticipated use of proceeds therefrom. These forward-looking
statements are made only as of the date of this report and are based on
Hanesbrands’ current intent, beliefs, plans and expectations. They
involve risks and uncertainties that could cause actual future results,
performance or developments to differ materially from those described in
or implied by such forward-looking statements. These risks and
uncertainties include the risks identified from time to time in
Hanesbrands’ most recent Securities and Exchange Commission reports,
including the 2015 Annual Report on Form 10-K, Quarterly Reports on Form
10-Q press releases and other communications. Hanesbrands undertakes no
obligation to update or revise forward-looking statements to reflect
changed assumptions, the occurrence of unanticipated events or changes
to future operating results over time, other than as required by law.
HanesBrands
HanesBrands, based in Winston-Salem, N.C., is a socially responsible
leading marketer of everyday basic innerwear and activewear apparel in
the Americas, Europe and Asia under some of the world’s strongest
apparel brands, including Hanes, Champion, Playtex, DIM,
Bali, Maidenform, JMS/Just My Size, L’eggs, Wonderbra,
Nur Die/Nur Der, Lovable and Gear for Sports. The company
sells T-shirts, bras, panties, shapewear, underwear, socks, hosiery, and
activewear produced in the company’s low-cost global supply chain.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160503007161/en/
Source: HanesBrands
HanesBrands
News Media: Matt Hall, 336-519-3386
Analysts and
Investors: T.C. Robillard, 336-519-2115