08:23 AM EDT, 03/12/2025 (MT Newswires) -- Gildan Activewear ( GIL ) was at last look up 0.3% on Wednesday after it priced an offering of $700 million in aggregate principal amount of senior unsecured notes.

The company plans to use the proceeds to repay indebtedness outstanding under its credit facilities and other general corporate purposes.

The notes consist of $150 million in floating rate senior unsecured Series 3 notes due March 13, 2028; $200 million in 3.630% senior unsecured Series 4 notes due March 13, 2028; and $350 million in 4.149% senior unsecured Series 5 notes due Nov. 22, 2030.

Gildan said it is offering the notes through an agency syndicate consisting of BMO Capital Markets, CIBC Capital Markets and TD Securities as joint bookrunners, along with J.P. Morgan, BofA Securities, RBC Capital Markets and Scotiabank as co-managers.

The offering is expected to close around March 13.

Gildan's share price dropped 2.7% on Tuesday to $69.19 on the TSX.