06:20 AM EDT, 09/24/2025 (MT Newswires) -- Gildan Activewear ( GIL ) overnight Tuesday priced an offering of US$1.2 billion aggregate principal amount of senior unsecured notes in two series.

This consisted of $600 million aggregate principal amount of 4.700% senior unsecured notes, due October 7, 2030 and $600 million aggregate principal amount of 5.400% senior unsecured notes, due October 7, 2035.

The company in a statement said it expects to use the net proceeds from the offering of the notes, together with cash on hand or other immediately available capital, to fund the cash portion of consideration to be paid for the acquisition of Hanesbrands Inc., the refinancing of Hanesbrands' existing indebtedness and related transaction fees and expenses related to the offer of notes and the acquisition of Hanesbrands.

Gildan added the offer is expected to close on or about October 7, 2025, subject to customary closing conditions. It noted the notes will be senior unsecured obligations of the company and will rank equally in right of payment with all of its existing and future senior unsecured and unsubordinated indebtedness.

Shares in Gildan rose more than 2% and hit 52 week highs on the TSX yesterday.