March 12, 2025 – Gildan Activewear Inc. announced that it has priced an offering of C$700 million aggregate principal amount of senior unsecured notes in three series (the “Notes”), consisting of C$150 million aggregate principal amount of floating rate senior unsecured notes, Series 3, due March 13, 2028 (the “2028 Floating Rate Notes”), C$200 million aggregate principal amount of 3.630% senior unsecured notes, Series 4, due March 13, 2028 (the “2028 Fixed Rate Notes”) and C$350 million aggregate principal amount of 4.149% senior unsecured notes, Series 5, due November 22, 2030 (the “2030 Fixed Rate Notes”). brbr
The 2028 Floating Rate Notes will be issued at par and bear interest at a rate equal to daily compounded CORRA plus 1.26% per annum, payable quarterly until maturity on March 13, June 13, September 13 and December 13 of each year, commencing on June 13, 2025. The 2028 Fixed Rate Notes will be issued at par and bear interest at a rate of 3.630% per annum, payable semi annually until maturity on March 13 and September 13 of each year, commencing on September 13, 2025. The 2030 Fixed Rate Notes will be issued at $999.89 per $1,000 principal amount of 2030 Fixed Rate Notes and bear interest at a rate of 4.149% per annum, payable semi-annually (other than the first interest payment) until maturity on May 22 and November 22 of each year, commencing on November 22, 2025. brbr
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.