HanesBrands draws down $630 million under revolving facility

By Wendy Van Sickle

Columbus, Ohio, March 25 – HanesBrands Inc is drawing down $630 million from its U.S. revolving loan facility to further strengthen its cash position, according to press release issued Wednesday.

The company said the drawdown will provide the company with additional financial flexibility to manage its business with a safety-first emphasis during the unknown duration and impact of the Covid-19 outbreak.

With the drawdown, HanesBrands expects to have about $1 billion of cash on hand. The company will have about $45 million of remaining availability under the revolver.

HanesBrands is a Winston Salem, N.C.-based marketer of everyday basic apparel.

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