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Hanesbrands announces proposed new senior secured credit facility
01
Dec '09
Hanesbrands Inc. announced that it plans to commence a public offering of $500 million of senior notes pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission and that it intends to amend and restate its existing senior secured credit facility to provide for a proposed $1.15 billion in new senior secured credit facilities.

Hanesbrands intends to simultaneously use the net proceeds from the notes offering together with borrowings from the proposed new senior secured credit facilities to refinance all or a portion of its outstanding debt under its existing senior secured credit facility and 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., RBC Capital Markets Corporation and BB&T Capital Markets 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 SEC. 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.

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 and has approximately 45,000 employees in more than 25 countries.

Hanesbrands Inc.

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