Tapestry issued $750,000,000 of 5.100% senior unsecured notes due 2030 and $750,000,000 of 5.500% senior unsecured notes due 2035 on December 11, 2024.

1. 01

   Tapestry issued $750,000,000 of 5.100% senior unsecured notes due 2030 and $750,000,000 of 5.500% senior unsecured notes due 2035 on December 11, 2024.

2. 02

   The company said the 2030 notes bear interest at 5.100% per year and the 2035 notes at 5.500% per year. Interest on both series is payable semi-annually on March 11 and September 11 of each year, beginning on September 11, 2025.

3. 03

   The company said it plans to use the net proceeds from the offering, together with cash on hand, to repay outstanding loans under its term loan credit agreement and borrowings under its revolving credit facility. It said those borrowings were used to fund share repurchases under its accelerated share repurchase agreements, and that the proceeds will also be used for general corporate purposes.

4. 04

   The company said the Indenture includes covenants that restrict its ability to create certain liens, enter into certain sale and leaseback transactions, and merge or consolidate, or transfer, sell or lease all or substantially all of its assets. The company said these covenants are subject to important limitations and exceptions.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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