Hanesbrands Inc. Exercises Optional Redemption Rights for Senior Notes

Hanesbrands Inc. made a significant move on February 13, 2025, by deciding to utilize its optional redemption rights to redeem all of its outstanding 4.875% Senior Notes due 2026. The original aggregate principal amount of these notes stood at $900,000,000. The company instructed U.S. Bank Trust Company, National Association, in its capacity as the successor to U.S. Bank National Association, who serves as trustee under the indenture governing the Notes, to issue a conditional notice of redemption to registered holders of the Notes. The Redemption Date has been fixed for March 17, 2025.

Upon redemption, the Notes will be repaid at a redemption price equivalent to 100% of the principal amount of the Notes plus the Applicable Premium (as defined in the Indenture) as of, and accrued and unpaid interest, if any, up to, but not inclusive of, the Redemption Date. However, the company’s obligation to redeem the Notes and pay the redemption price on the Redemption Date is subject to a condition. This condition necessitates the completion, by the company on or before the Redemption Date, of one or more debt financings. These financings need to be on terms and conditions deemed acceptable to the company in its sole and absolute discretion. Furthermore, the net proceeds from these financings must be adequate to cover the redemption price in full and all related fees and expenses for both the financings and the redemption.

Notably, the information provided does not constitute a formal notice of redemption concerning the Notes.

As per requirements outlined by the Securities Exchange Act of 1934, Hanesbrands Inc.’s report has been signed by Kristin L. Oliver, who serves as the EVP, Chief Human Resources Officer, and Chief Legal Officer for the company on February 13, 2025.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Hanesbrands’s 8K filing here.

About Hanesbrands

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of range of innerwear apparels for men, women, and children in the Americas, Europe, the Asia pacific, and internationally. The company operates through three segments: Innerwear, Activewear, and International.