Gildan Activewear incorporates ESG targets into $1 billion revolver

By Wendy Van Sickle

Columbus, Ohio, March 28 – Gildan Activewear Inc. amended and restated its existing revolving credit facility for a $1 billion revolver that incorporates sustainability-linked terms, according to a news release.

The amendment introduces an annual pricing adjustment based on the achievement of Gildan’s three ESG targets, which include reducing the company’s greenhouse gas by 2030; use of recycled or sustainable materials in at least 75% of Gildan’s packaging and apparel trims by 2027; and the achievement of gender parity by 2027 at the director level and above.

BMO Financial Group is acting as lead sustainability structuring agent, and TD Financial Group and CIBC Financial Group are acting as co-lead sustainability structuring agents for Gildan’s sustainability-linked loan.

Gildan is a Montreal-based marketer and manufacturer of branded basic apparel.

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