MONTRÉAL, May 08, 2024 (GLOBE NEWSWIRE) -- Gildan Activewear Inc. (GIL: TSX and NYSE) ("Gildan" or the "Company") announced today that it has reached an agreement to issue CAD$200 million aggregate principal amount of senior unsecured notes to Caisse de dépôt et placement du Québec ("CDPQ") on a private placement basis. The notes will bear interest at a rate of 6.0% per year and will mature 5 years from the issuance date. Gildan intends to use the net proceeds of the issuance to fund its common share repurchase program and for the repayment of maturing outstanding debt.
Gildan has agreed to maintain strong local leadership and its global headquarters in Québec for a minimum of 7 years, and has committed to becoming a Global Minimum Taxpayer.1
"The refreshed Board and the new CEO of Gildan have the right business plan, clear commitments to keeping its headquarters in Québec and to pay Global Minimum Tax. This is why CDPQ has decided to support the growth of this major Québec company. It's a first step to a partnership that will expand with our intention to become an important shareholder of the company in this new context," said Kim Thomassin, Executive Vice-President and Head of Québec at CDPQ.
"We are pleased that given our longstanding relationship, CDPQ, one of Canada's most admired and successful investors, has decided to make this investment in Gildan. We view it as a strong validation of our Board, management team and ongoing commitment to shareholder value creation," said Tim Hodgson, Chairman of Gildan Activewear.
"We believe this investment and partnership with CDPQ is a very positive indicator about the strength and potential of the business as well as the refreshed Board and management team. I look forward to leading Gildan from my new home city of Montréal and creating value for all of Gildan's shareholders," said Vince Tyra, CEO of Gildan Activewear.
Closing of the transaction is expected to occur on or around June 4, 2024, and will be contingent on successful completion of confirmatory due diligence and other customary closing requirements.
The notes are being offered in Canada on a private placement basis in reliance upon exemptions from the prospectus requirements under applicable securities legislation. The notes have not been and will not be qualified for sale to the public under applicable securities laws in Canada and, accordingly, any offer and sale of the notes in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. The notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration under, or an applicable exemption from the registration requirements of, the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer to sell or a solicitation of an offer to buy the notes in any jurisdiction where it is unlawful to do so.
1 See the Company's prior disclosure in respect of Global Minimum Tax, including the Company's May 1, 2024 press release under the heading "2024 Outlook", accessible at the following link: Gildan Activewear Reports Results for the First Quarter of 2024.
蒙特利爾,2024年5月8日(環球通訊社)——吉爾丹運動服公司(GIL:多倫多證券交易所和紐約證券交易所)(“吉爾丹” 或 “公司”)今天宣佈,它已達成協議,以私募方式向魁北克儲蓄與配售銀行(“CDPQ”)發行總額爲2億加元的優先無抵押票據。這些票據的年利率爲6.0%,並將自發行之日起5年到期。吉爾丹打算使用本次發行的淨收益爲其普通股回購計劃提供資金,並用於償還到期的未償債務。
Gildan已同意將強有力的當地領導地位及其設在魁北克的全球總部維持至少7年,並承諾成爲全球最低納稅人。1
“更新後的董事會和Gildan的新任首席執行官有正確的商業計劃,明確承諾將總部保留在魁北克並繳納全球最低稅。這就是爲什麼CDPQ決定支持這家魁北克大型公司的發展。CDPQ執行副總裁兼魁北克負責人金·托馬辛說,這是建立合作伙伴關係的第一步,這種合作關係將擴大,我們打算在新的背景下成爲公司的重要股東。
“鑑於我們的長期合作關係,加拿大最受尊敬和最成功的投資者之一CDPQ決定對吉爾丹進行這項投資,我們對此感到高興。我們認爲這是對我們的董事會、管理團隊以及對股東價值創造的持續承諾的有力認可。” Gildan Activewear董事長蒂姆·霍奇森說。
“我們認爲,這項投資以及與CDPQ的合作關係是衡量業務實力和潛力以及董事會和管理團隊更新的實力和潛力的一個非常積極的指標。我期待着帶領吉爾丹從我的新家鄉蒙特利爾出發,爲吉爾丹的所有股東創造價值。” Gildan Activewear首席執行官文斯·泰拉說。
該交易預計將於2024年6月4日左右完成,這將取決於確認性盡職調查和其他慣例成交要求的成功完成。
這些票據是在加拿大以私募方式發行的,具體取決於適用的證券立法對招股說明書要求的豁免。根據加拿大適用的證券法,這些票據過去和將來都沒有資格向公衆出售,因此,在加拿大的任何票據要約和出售都將不受此類證券法的招股說明書要求的約束。這些票據過去和將來都沒有根據經修訂的1933年《美國證券法》(“美國證券法”)或任何其他司法管轄區的證券法進行註冊,如果沒有根據美國證券法的註冊要求進行註冊或沒有相應的註冊要求豁免,則不得在美國發行或出售。本新聞稿不應構成賣出要約或買入要約的邀請,在任何非法的司法管轄區,也不得有任何賣出要約或要求買入要約。
1 參見公司先前關於全球最低稅的披露,包括公司2024年5月1日發佈的標題爲 “2024年展望” 的新聞稿,可通過以下鏈接獲取:吉爾丹運動服公佈2024年第一季度業績。