Simpson Thacher represented the underwriters, led by J.P. Morgan Securities Inc., in connection with a registered offering by Hanesbrands Inc. of $500 million aggregate principal amount of its 8.000% Senior Notes due 2016. Simpson Thacher also represented the lenders in connection with the Company’s $1.15 billion new senior secured credit facilities.
Hanesbrands Inc. is a consumer goods company with a portfolio of leading apparel brands, including Hanes,Champion, C9 by Champion, Playtex, Bali, L’eggs, Just My Size, barely there, Wonderbra, Stedman, Outer Banks, Zorba, Rinbros and Duofold. The Company designs, manufactures, sources and sells a broad range of apparel essentials such as t-shirts, bras, panties, men’s underwear, kids’ underwear, casual wear, active wear, socks and hosiery.
The Company used the net proceeds from the Notes offering, together with the proceeds from the borrowings under its new senior secured credit facilities to refinance outstanding borrowings under the Company’s existing senior secured credit facilities, to repay the borrowings under the Company’s existing second lien credit facility and to pay fees and expenses related to these transactions.
The Simpson Thacher team for the offering included Gary Sellers, Yaneris Rosa and Sunny Cheong (Securities); Frank Huck, Justin Lungstrum, Justin Benford, Benjamin Wells and Jim Cross (Credit); Mardi Merjian and Davis Coen (Real Estate); Marcela Robledo and Parijat Sharma (Intellectual Property); Mike Isby (Environmental); Jennifer Pepin (Executive Compensation and Employee Benefits); Scott Dyer and Julie Levy (Labor); Josh Levine and Justin Stern and Marc Hennes (Litigation); Jonathan Cantor and Christian Miller (Tax); Andrew Pagliughi and Jennie Getsin (Blue Sky). Paralegal Simon Kliegman also provided valuable assistance.