Hanesbrands to price $1.5 billion notes in two tranches on Tuesday

By Paul A. Harris

Portland, Ore., May 3 – Hanesbrands Inc. plans to price $1.5 billion of non-callable eight-year and 10-year senior notes on Tuesday, according to market sources.

The eight-year notes are being guided with a 4¾% to 5% yield, and the 10-year notes are guided to yield 5% to 5¼%.

Tranche sizes remain to be determined.

Accounts generating reverse inquiry have staked claims on at least half the offered amount of bonds, sources say.

The deal was scheduled to be marketed by means of a late Tuesday morning investor conference call, and the Rule 144A for life offering is set to price thereafter.

J.P. Morgan Securities LLC, BofA Merrill Lynch, Barclays, HSBC, SunTrust Robinson Humphrey Inc. and Goldman Sachs & Co. are the joint bookrunners.

The Winston Salem, N.C.-based marketer of everyday basic apparel plans to use the proceeds to refinance its 6 3/8% senior notes due Dec. 15, 2020 and to repay revolver debt.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.