HanesBrands announced that it has initiated the process to favorably amend its senior secured credit facility to take advantage of credit market conditions and the company’s strong financial performance and cash generation.
The company has begun discussions seeking to: increase the size, reduce the rate and extend the maturity of each of its term loans; reduce the rate and extend the maturity of its revolving credit facility; and achieve other favorable credit agreement improvements to the entire facility.
The company believes that amending its credit facility would enhance the support of the business’ global growth model, including its value-creating capital allocation strategy.
The company expects to complete its credit facility amendments by the end of 2017 and will announce the new terms upon completion.
HanesBrands owns 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.
