The Firm recently represented the initial purchasers, led by J.P. Morgan Securities LLC, in connection with an offering by Hanesbrands Inc. (“Hanes”) of $600 million aggregate principal amount of its 9% Senior Notes due 2031. The net proceeds from the transaction, together with borrowings under a new senior secured term loan B facility and cash on hand, will be used to redeem all of Hanes’ outstanding 4.625% Senior Notes due 2024 and 3.5% Senior Notes due 2024 and pay related fees and expenses.
Hanes is a global company focused on the manufacturing and marketing of leading everyday basic apparel under some of the world’s strongest apparel brands, including Hanes, Champion, Bonds, Maidenform, Bali, Bras N Things, Playtex, JMS/Just My Size, Gear for Sports, Wonderbra, Berlei, Comfortwash and Alternative.
The Simpson Thacher team for the transaction included David Azarkh, John O’Connell, Jieun Lim and Avery Golombek (Capital Markets); Jon Cantor and Ruoxi Zhang (Tax); Jeanne Annarumma and Falguni Joshi (ECEB); Lori Lesser, Bobbie Burrows and Sarika Pandrangi (IP); and Jennie Getsin (Blue Sky).