On March 12, 2025, Gildan Activewear Inc. (TSX & NYSE: GIL) announced a C$700 million private offering of senior unsecured notes through a Canadian syndicate of agents. The offering comprises three tranches: C$150 million floating rate notes due March 13, 2028 (Series 3), C$200 million fixed 3.630% notes due March 13, 2028 (Series 4), and C$350 million fixed 4.149% notes due November 22, 2030 (Series 5). The offering is expected to close on March 13, 2025, subject to customary closing conditions.

Proceeds from the offering will be used to repay existing indebtedness under Gildan’s credit facilities and for general corporate purposes. The notes have received a provisional BBB rating with a stable trend from DBRS Limited, and they will rank equally with Gildan’s other senior unsecured debt.

The syndicate of agents includes joint bookrunners BMO Capital Markets, CIBC Capital Markets, and TD Securities, along with co-managers J.P. Morgan, BofA Securities, RBC Capital Markets, and Scotiabank.

Legal advisors for the transaction were not disclosed in the public release. This financing move supports Gildan’s balance sheet flexibility and reflects confidence from Canadian capital markets in the company’s long-term strategy and creditworthiness.