Hanesbrands launches $750 million term loan at SOFR plus 400 bps

By Sara Rosenberg

New York, Feb. 6 – Hanesbrands Inc. was scheduled to hold a lender call at 1 p.m. ET on Monday to launch a $750 million seven-year term loan B (Ba2/BB+) that is talked at SOFR plus 400 basis points with a 0.5% floor and an original issue discount of 97 to 98, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

JPMorgan Chase Bank is the lead on the deal.

Commitments are due at 5 p.m. ET on Feb. 15, the source added.

Proceeds will be used with other unsecured debt to refinance euro-denominated 3½% senior notes due 2024 and dollar-denominated 4 5/8% senior notes due 2024.

Hanesbrands is a Winston-Salem, N.C.-based marketer of everyday basic apparel.

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