Gildan Activewear to use revolver borrowings for Gold Toe purchase

By Sara Rosenberg

New York, April 11 - Gildan Activewear Inc. plans on using borrowings under its revolving credit facility, along with cash on hand, to fund the $350 million acquisition of Gold Toe Moretz Holdings Corp., according to a news release.

Gildan will not assume any of Gold Toe Moretz's outstanding debt.

Gildan is a Montreal-based marketer and manufacturer of branded basic apparel. Gold Toe Moretz is a Newton, N.C.-based supplier of branded athletic, casual and dress socks.

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