Hanesbrands plans to use net proceeds of the offering
30 Nov '06
1 min read
Hanesbrands Inc announced that it has begun a proposed $500 million offering of senior unsecured notes to qualified institutional buyers subject to market and other conditions.
Hanesbrands plans to use the net proceeds of the offering to repay outstanding borrowings under its bridge loan facility, which was approximately $500 million as of Oct. 31, 2006.
The notes are being offered in the United States pursuant to Rule 144A under the Securities Act of 1933, as amended, and to persons outside of the United States under Regulation S under the Securities Act.
The notes will bear interest at a rate to be determined at pricing and will be guaranteed on a senior unsecured basis by each of Hanesbrands' existing and future subsidiaries that guarantee indebtedness under Hanesbrands' senior secured credit facility.
The notes and related guarantees have not been registered under the Securities Act of 1933, as amended, or under any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
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