Gildan Activewear completes previously announced offering of C$700M senior unsecured notes
On November 22, 2024, Gildan Activewear Inc. (“Gildan”) completed its previously announced inaugural offering of C$700 million aggregate principal amount of senior unsecured notes in two series (the “Notes”), consisting of C$500 million aggregate principal amount of 4.362% senior unsecured notes, Series 1, due 2029 and C$200 million aggregate principal amount of 4.711% senior unsecured notes, Series 2, due 2031.
Gildan 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 were 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.
McCarthy Tétrault advised the syndicate of agents with a team led by Patrick Boucher and Vincent Laurin that included Samuil Stoychev, Karolina Kasparov and Asma Boudoukha (Business), Eve Tessier and Jason Phelan (Financial Services), and Fred Purkey (Tax).
