Gildan Announces Private Offering of C$700 Million Senior Unsecured Notes
Summary
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.The Notes are being offered through an agency syndicate consisting of BMO Capital Markets, CIBC Capital Markets and Scotiabank, as joint bookrunners, along with J.P. Morgan, TD Securities, BofA Securities and RBC Capital Markets, as co-managers. Material factors, which could cause actual results or events to differ materially from a conclusion, forecast, or projection in such forward-looking information, include, but are not limited to changes in general economic, financial or geopolitical conditions globally or in one or more of the markets Gildan serves, including the pricing and inflationary environment, and Gildans ability to implement its growth strategies and plans, as well as those factors listed in the FY2023 MD&A under the Risks and uncertainties section and Caution regarding forward-looking statements sections. Furthermore, unless otherwise stated, the forward-looking statements contained in this press release are made as of the date of this press release, and Gildan does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise unless required by applicable legislation or regulation. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.Gildan is a leading manufacturer of everyday basic apparel. Gildan operates with a strong commitment to industry-leading labour, environmental and governance practices throughout its supply chain in accordance with its comprehensive ESG program embedded in the Companys long-term business strategy.