HanesBrands (NYSE: HBI) today announced that it is planning to offer
$1.5 billion in aggregate principal amount of senior notes due 2024 and
2026 in a private offering that is exempt from registration under the
Securities Act of 1933, as amended, subject to market and other
customary conditions. 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 notes and the related guarantees will be offered in the United
States to persons reasonable 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 proposed 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.
