Kontoor Brands $400 million senior notes offering
We advised Kontoor Brands on its high-yield debt offering
Davis Polk advised Kontoor Brands, Inc. in connection with a Rule 144A / Regulation S offering of $400 million aggregate principal amount of its 4.125% senior notes due 2029. The net proceeds of the notes offering were used to prepay certain borrowings under Kontoor’s existing term loan facilities in connection with the amendment and restatement of its senior secured credit facilities. The obligations under the notes are guaranteed by certain of Kontoor’s subsidiaries.
Kontoor, based in Greensboro, North Carolina, is a global lifestyle apparel company, with a portfolio led by two of the world’s most iconic consumer brands: Wrangler and Lee. Kontoor designs, manufactures and distributes superior high-quality products that look good and fit right, giving people around the world the freedom and confidence to express themselves.
The Davis Polk corporate team included partners Deanna L. Kirkpatrick and Roshni Banker Cariello, counsel Dan Gibbons and associate Tomer Magid. Partner Michael Farber and associate Daniel L. Jose provided tax advice. The intellectual property and technology transactions team included partner Frank J. Azzopardi and associate Christopher C. Woller. All members of the Davis Polk team are based in the New York office.