HanesBrands Announces Offering of Senior Notes
April 30 2020 - 8:00AM
Business Wire
HanesBrands (NYSE: HBI) announced today that it is planning to
offer $500 million aggregate principal amount of senior unsecured
notes due 2025 in a private offering that is exempt from
registration under the Securities Act of 1933, as amended (the
“Securities Act”), subject to market and other customary
conditions. The notes will be senior unsecured obligations of
HanesBrands and will be guaranteed on a senior unsecured basis by
certain of HanesBrands’ domestic subsidiaries that guarantee its
credit facilities or certain other indebtedness.
HanesBrands currently intends to use the net proceeds from the
offering to repay the outstanding borrowings under its revolving
loan facility, to pay related fees and expenses, and, the
remainder, for general corporate purposes.
The notes and the related guarantees will be offered 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 of 1933 and Section 21E of the
Securities Exchange Act of 1934, including those regarding the
proposed terms of the offering of notes, the timing of the offering
of notes and the anticipated use of proceeds therefrom. These
forward-looking statements are made only as of the date of this
release and are based on HanesBrands’ current intent, beliefs,
plans and expectations. Readers are cautioned not to place any
undue reliance on any forward-looking statements. Forward-looking
statements necessarily involve risks and uncertainties, many of
which are outside of our control, that could cause actual results
to differ materially from such statements and from our historical
results and experience. These risks and uncertainties include
market conditions, the potential effects of the COVID-19 outbreak,
including on consumer spending, global supply chains and the
financial markets, and our ability to consummate the proposed
offering of notes on the terms or timeline contemplated or at all
and the risks identified from time to time in HanesBrands’ most
recent Securities and Exchange Commission reports, including the
2019 Annual Report on Form 10-K, quarterly reports on Form 10-Q,
press releases and other communications. Since it is not possible
to predict or identify all of the risks, uncertainties and other
factors that may affect future results, the above list should not
be considered a complete list. Any forward-looking statement speaks
only as of the date on which such statement is made. HanesBrands
undertakes no obligation to update or revise any forward-looking
statement, whether as a result of new information, or to reflect
changed assumptions or the occurrence of future events or
otherwise, other than as required by law.
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News Media, contact: Matt Hall, (336) 519-3386 Analysts and
Investors, contact: T.C. Robillard, (336) 519-2115
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