Hanesbrands Inc. said Thursday it has priced its offering of $500 million worth of 8 percent senior notes due Dec. 15, 2016 at a price of 98.686 percent of the principal amount.
Hanesbrands, based in Winston-Salem, N.C., will pay interest semiannually on Dec. 15 and June 15, beginning this June. The company plans to use the proceeds from the notes, along with other credit, to refinance other outstanding debt.
Hanesbrands sells bras, underwear, nylons and other items under brands such as Hanes, Champion, Playtex, Bali and Wonderbra.
JPMorgan Securities Inc., Banc of America Securities LLC, HSBC Securities (USA) Inc. and Goldman Sachs & Co. are book-running managers. Barclays Capital Inc., BB&T Capital Markets, PNC Capital Markets LLC and RBC Capital Markets Corp. are co-managers.
Hanesbrands shares rose 26 cents to $24.33 in afternoon trading.