HanesBrands to Complete Early Prepayment of All 8% Senior Notes Due 2016

  HanesBrands to Complete Early Prepayment of All 8% Senior Notes Due 2016

As Planned, Company is Using Strong Cash Position to Prepay the Remaining $250
Million 8% Notes on Dec. 16, 2013

Company Completes Goal to Reduce Long-Term Bond Debt to $1 Billion

Business Wire

WINSTON-SALEM, N.C. -- November 7, 2013

HanesBrands (NYSE: HBI), a leading marketer of everyday basic apparel under
world-class brands, announced today that it will use its strong cash position
in December to complete its previously communicated goal to prepay all
remaining 8 Percent Senior Notes Due 2016 and reduce bond debt to $1 billion.

The company will prepay the remaining $250 million of 8 Percent Senior Notes
on Dec. 16, 2013, completing its successful multiyear campaign to use cash
flow to retire all of the company’s bond debt except for its $1 billion of
6.375 percent notes.

The company expects to incur costs of approximately $15 million in the fourth
quarter of 2013 for bond prepayment expenses and acceleration of noncash
unamortized debt costs. The expectation for these costs has been previously
communicated and is incorporated in the company’s 2013 financial guidance.

“We have a very strong balance sheet to support our strategies to continually
generate shareholder value,” Hanes Chief Financial Officer Richard D. Moss
said. “Over the past five years, we have reduced our long-term bond debt by
half, a $1 billion reduction. Now, we are deploying our resources to continue
our value-creation momentum by investing in our Innovate-to-Elevate strategy,
paying regular quarterly cash dividends, and assessing acquisition and
share-repurchase opportunities.”

Cautionary Statement Concerning Forward-Looking Statements

Statements in this press release that are not statements of historical fact,
including those regarding the company’s debt-reduction plans and future
financial performance, are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements are based on current intent,
beliefs, plans and expectations and involve risks and uncertainties that may
cause actual results to differ materially from HanesBrands’ historical
experience and present expectations or projections. The company cautions
investors not to place undue reliance on any forward-looking statements and
encourages investors to review risk factors contained in the company’s most
recent Securities and Exchange Commission reports, including our annual report
on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K,
registration statements, press releases and other communications, as well as
in the investors section of our corporate website at www.hanes.com/investors.
Any forward-looking statement speaks only as of the date on which such
statement is made, and HanesBrands does not undertake any obligation to update
any forward-looking statement to reflect events or circumstances after the
date on which such statement was made.

HanesBrands

HanesBrands is a socially responsible leading marketer of everyday basic
apparel under some of the world’s strongest apparel brands, including Hanes,
Champion, Playtex, Bali, Maidenform, Flexees, JMS/Just My Size, barely there,
Wonderbra and Gear for Sports. The company sells T-shirts, bras, panties,
shapewear, men’s underwear, children’s underwear, socks, hosiery, and
activewear produced in the company’s low-cost global supply chain. Ranked No.
512 on the Fortune 1000 list, Hanes has approximately 51,500 employees in more
than 25 countries and takes pride in its strong reputation for ethical
business practices. Hanes is a U.S. Environmental Protection Agency Energy
Star 2013 and 2012 Sustained Excellence Award winner and 2010 and 2011 Partner
of the Year. The company ranks No. 141 on Newsweek magazine’s list of Top 500
greenest U.S. companies. More information about the company and its corporate
social responsibility initiatives, including environmental, social compliance
and community improvement achievements, may be found at
www.Hanes.com/Corporate.

Contact:

HanesBrands
News Media:
Matt Hall, 336-519-3386
or
Analysts and Investors:
T.C. Robillard, 336-519-2115