×
62
Fashion Jobs
I.T.
Senior Buyer - Bape
Permanent · Hong Kong
CONNECTEDGROUP LTD
qa Director (Textile, us Market Focused)
Permanent · LAI CHI KOK
CONNECTEDGROUP LTD
qa Director (Textile, us Market Focused)
Permanent · LAI CHI KOK
CONNECTEDGROUP LTD
qa Director (Textile, us Market Focused)
Permanent · LAI CHI KOK
ESTÉE LAUDER COMPANIES
Field Visual Merchandizing Manager, tr hk/mc/tw
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Regional Digital Marketing Manager, Luxury Brand
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Accounting Manager - Luxury Brand
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Senior Administration Manager, Retail
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Regional Assistant HR Manager, c&b
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Assistant / Marketing Manager - Mnc
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Regional Planner - Global Mnc Brand
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Assistant Buying Manager
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Senior Finance Manager - Global Brand
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Regional Marketing Manager - Base China
Permanent · Hong Kong
ESTÉE LAUDER COMPANIES
Corporate Account Manager, Travel Retail
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Assistant Accounting Manager - Global Brand
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Regional Merchandising Manager - Luxury Menswear
Permanent · Hong Kong
ESTÉE LAUDER COMPANIES
Corporate Account Executive, tr hk/mc/tw
Permanent · Hong Kong
ESTÉE LAUDER
Vice President, Marketing, Estee Lauder, Asia Pacific
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Finance Manager - Retail Group
Permanent · Hong Kong
CONNECTEDGROUP LTD
Head of 3d Development (Garment)
Permanent · HONG KONG
CONNECTEDGROUP LTD
Sourcing Specialist (Trims &Amp; Packaging) (eu Buying Office)
Permanent · HONG KONG

Hanesbrands amends first-lien credit agreement

By
Reuters
Published
Mar 12, 2009
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-


Hanesbrand Hanes 2009

* Amends credit agreement

* Sees 2009 long-term debt down by at least $300 mln

* Sees 2009 net interest expense of $165 mln

March 12 (Reuters) - Hanesbrands Inc (HBI.N) said on Thursday March 12 it amended its first-lien credit agreement and is aiming to reduce its long-term debt in 2009 by at least $300 million.

The amendment applies to the company's $990 million of term loans, as well as its revolving credit facility, Hanesbrands said in a statement.

In February, the company, known for its inner-wear lines, said it does not expect to achieve its long-term profit growth goal of 10 percent to 20 percent in 2009, and was trying to amend its credit facility to fight the recessionary environment.

Hanesbrands also expects net interest expense for 2009 of about $165 million, compared with $155 million the year earlier, as the amendment raises the company's interest-rate spread by 300 basis points.

"This amendment and our ability to aggressively manage costs give us additional cushion to meet our adjusted debt-to-EBITDA ratios," Chief Financial Officer Lee Wyatt said.

Wyatt also said Hanesbrands would end 2009 with at least as much debt cushion as it had in 2008.

Shares of the company had closed at $6.41 Wednesday on the New York Stock Exchange. (Reporting by Nivedita Bhattacharjee in Bangalore; Editing by Anil D'Silva)

© Thomson Reuters 2020 All rights reserved.