HanesBrands announced that it has favorably amended its senior secured credit facility to enhance the company’s long-term global growth and capital allocation strategies.

The amended credit facility reduces interest rates, increases capacity, and increases the flexibility of the facility’s indebtedness, investment and restricted payments baskets, and leverage-ratio requirements.

“We are very pleased with the strong support we received in the credit markets,” said Hanes Chief Financial Officer Barry A. Hytinen. “The favorable amendments will further assist us in continuing to create long-term value for investors.”

The senior secured credit facility increased to $2.25 billion from $1.925 billion and consists of a $1 billion revolving credit facility, a $750 million Term Loan A, and a $500 million Term Loan B.

The interest rates of the revolver and Term Loan A decreased 25 basis points, while the rate for the Term Loan B decreased 75 basis points.

Other highlights include: significant improvements to the Term Loan A amortization schedule; maturity extensions for the revolver and term loans; covenant amendments that include partial credit for cash in calculating leverage; and an increase of the maximum permitted total net leverage ratio to 4.5 times EBITDA with an allowable step up to 5.0 times for 12 months following a permitted acquisition.

A summary chart with additional details of the amended credit facility is included with the company’s filing today with the SEC and is available on the company’s investor relations website at Hanes.com/investors.

HanesBrands markets T-shirts, bras, panties, shapewear, underwear, socks, hosiery, and activewear under a number of brands, including Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Berlei, Alternative and Gear for Sports.