November 22, 2024 – Gildan Activewear Inc. announced that it has priced an inaugural offering of C$700 million aggregate principal amount of senior unsecured notes in two series, consisting of C$500 million (Series 1, due 2029), and C$200 million (Series 2, due 2031).
The 2029 Notes will be issued at par and bear interest at a rate of 4.362% per annum, payable semi annually until maturity on May 22 and November 22 of each year, commencing on May 22, 2025. The 2031 Notes will be issued at par and bear interest at a rate of 4.711% per annum, payable semi annually until maturity on May 22 and November 22 of each year, commencing on May 22, 2025.
The Company intends to use the net proceeds of the offering for the repayment of indebtedness outstanding under its credit facilities and other general corporate purposes.