Gildan Activewear Completes Credit Facility Refinancing

On July 11, 2002, Montreal-based Gildan Activewear Inc. completed the refinancing of its $150 million credit facility with Bank of Montreal, acting as agent and lender, and Royal Bank of Canada, The Toronto-Dominion Bank, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce and IntesaBCI Canada, as lenders.

Gildan Activewear was represented by Ogilvy Renault in Montreal, with a team that included Paul Raymond (corporate) and Christian Sioufi and Martin Thériault (financing), assisted by François Ramsay, vice-president, general counsel and corporate secretary, Gildan Activewear. Bank of Montreal was represented by Davies Ward Phillips & Vineberg LLP, with a team that included Carol Pennycook and Derek Vesey in Toronto and Janet Ferrier and Marc-Alexandre Poirier in Montreal.