HanesBrands said Thursday it has priced a $1.1 billion senior secured term loan B facility to replace its existing $300 million loan due in 2030.
The new loan will mature in seven years and is priced at the secured overnight financing rate + 275 basis points, the company said.
HanesBrands said it also established a $750 million senior secured revolving credit facility due in 2030 and a $400 million term loan A facility, both intended to refinance current debt.
Loan proceeds will be used to redeem senior notes, refinance existing loans, and cover associated fees, the company said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.