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Hanesbrands Inc. Prices Offering of Its 8 Percent Senior Notes Due 2016
http://www.fashionnewspaper.com/articles/2050/1/Hanesbrands-Inc-Prices-Offering-of-Its-8-Percent-Senior-Notes-Due-2016-/Page1.html
Maxamillion Blick

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By Maxamillion Blick
Published on 12/3/2009
 
Hanesbrands Inc. (NYSE: HBI) today announced the pricing of its underwritten public offering of $500 million in aggregate principal amount of its 8 percent senior notes due December 15, 2016, at a public offering price of 98.686 percent of the principal amount. Hanesbrands will pay interest on the notes semiannually in arrears on December 15 and June 15 of each year, beginning on June 15, 2010. The notes will be fully and unconditionally guaranteed on a senior unsecured basis by substantially all of the company’s existing domestic subsidiaries and by certain of its future restricted subsidiaries.
Hanesbrands Inc. Prices Offering of Its 8 Percent Senior Notes Due 2016
Hanesbrands Inc. (NYSE: HBI) today announced the pricing of its underwritten public offering of $500 million in aggregate principal amount of its 8 percent senior notes due December 15, 2016, at a public offering price of 98.686 percent of the principal amount. Hanesbrands will pay interest on the notes semiannually in arrears on December 15 and June 15 of each year, beginning on June 15, 2010. The notes will be fully and unconditionally guaranteed on a senior unsecured basis by substantially all of the company’s existing domestic subsidiaries and by certain of its future restricted subsidiaries.

Hanesbrands intends to use the net proceeds from the notes offering together with borrowings from its proposed $1.15 billion new senior secured credit facilities to refinance all or a portion of its outstanding debt under its existing senior secured credit facility and to repay all of its outstanding debt under its senior secured second-lien credit facility, as well as to pay fees and expenses related to these transactions.

The exact terms and timing of the refinancing will depend upon market conditions and other factors.

J.P. Morgan Securities Inc., Banc of America Securities LLC, HSBC Securities (USA) Inc. and Goldman, Sachs & Co. will act as joint book-running managers, and Barclays Capital Inc., BB&T Capital Markets, PNC Capital Markets LLC and RBC Capital Markets Corporation will act as co-managers of the notes offering.

The offering is being made solely by means of a prospectus supplement and accompanying prospectus, which has been filed with the Securities and Exchange Commission. Before investing, the prospectus supplement and accompanying prospectus should be read, as well as other documents the company has filed or will file with the SEC for more complete information about Hanesbrands and this offering. These documents are available for free by visiting EDGAR on the SEC website at www.sec.gov.

Alternatively, the company, any underwriter or any dealer participating in the offering will arrange to send the prospectus relating to the offering if requested by calling J.P. Morgan Securities Inc. at (800) 245-8812, Banc of America Securities LLC at (800) 294-1322, HSBC Securities (USA) Inc. at (866) 811-8049 or Goldman, Sachs & Co. at (866) 471-2526.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Hanesbrands Inc.

Hanesbrands Inc. is a leading marketer of everyday apparel essentials under some of the world’s strongest apparel brands, including Hanes, Champion, Playtex, Bali, JMS/Just My Size, barely there and Wonderbra. The company sells T-shirts, bras, panties, men’s underwear, children’s underwear, socks, hosiery, casualwear and activewear produced in the company’s low-cost global supply chain. Hanesbrands has approximately 45,000 employees in more than 25 countries.