Content and data provided by various third parties and Fidelity - Terms of Use
Print.Print
Small font size A Larger text size A Largest text size A

Gildan Prices US$1.2 Billion Senior Notes to Help Fund Hanesbrands Acquisition

BY MT Newswires | CORPORATE | 09/24/25 06:20 AM EDT

06:20 AM EDT, 09/24/2025 (MT Newswires) -- Gildan Activewear (GIL) overnight Tuesday priced an offering of US$1.2 billion aggregate principal amount of senior unsecured notes in two series.

This consisted of $600 million aggregate principal amount of 4.700% senior unsecured notes, due October 7, 2030 and $600 million aggregate principal amount of 5.400% senior unsecured notes, due October 7, 2035.

The company in a statement said it expects to use the net proceeds from the offering of the notes, together with cash on hand or other immediately available capital, to fund the cash portion of consideration to be paid for the acquisition of Hanesbrands Inc., the refinancing of Hanesbrands' existing indebtedness and related transaction fees and expenses related to the offer of notes and the acquisition of Hanesbrands.

Gildan added the offer is expected to close on or about October 7, 2025, subject to customary closing conditions. It noted the notes will be senior unsecured obligations of the company and will rank equally in right of payment with all of its existing and future senior unsecured and unsubordinated indebtedness.

Shares in Gildan rose more than 2% and hit 52 week highs on the TSX yesterday.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

More Fixed Income News

All Fixed Income News

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

© 1998 – 2014 FMR LLC.

All rights reserved.
fir_news_article