Gildan Activewear (TSE:GIL.A.; NYSE:GIL) today announced that it has completed a private placement of U.S.$70 million of 7-year Notes with a group of five U.S. and Canadian financial institutions. Concurrently, the Company has entered into a cross-currency swap agreement, as a result of which the principal amount will be $105 million and the interest rate will be 8.