HanesBrands Initiates Completion of Planned $300 Million Reduction of Long-term Debt in 2012

HanesBrands Inc. announced today that it intends to redeem the final $147.1 million of its Floating Rate Senior Notes due 2014, which will complete the retirement of approximately $300 million of floating-rate bond debt as planned in 2012.

Hanes is using free cash flow to significantly reduce long-term debt and leverage in 2012 and plans to continue in 2013.