HanesBrands announced on February 20, 2025, the successful pricing of a new senior secured Term Loan B facility in an aggregate principal amount of $1.1 billion. This facility will mature seven years after the closing date, extending the company's debt profile to 2032.
The Term Loan B priced at SOFR + 275 basis points with an Original Issue Discount (OID) of 99 3/4. Additionally, HanesBrands announced a new $750 million senior secured revolving credit facility due 2030 and a $400 million Term Loan A facility due 2030.
The net proceeds from these new facilities are intended to redeem the company’s outstanding 4.875% Senior Notes due 2026 and refinance its existing senior secured credit facilities. This action is expected to enhance balance sheet flexibility and reduce risk.
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