secwatch.observer — SEC 8-K summary
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Issuer:     TAPESTRY, INC. (TPR)
CIK:        0001116132
Form:       8-K
Filed at:   2022-05-12T23:59:59+00:00
Accession:  0001140361-22-018834
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 2.04, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tapestry enters into $1.25B revolver and $500M term loan; conditions to redeem $400M senior notes
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- New $1.25B unsecured revolving credit facility and $500M delayed draw term loan facility, both maturing May 11, 2027.
- New facilities replace existing $1.25B revolving credit facility dated October 24, 2019.
- Conditionally redeemed $400M of 3.000% senior notes due July 2022; redemption scheduled June 15, 2022.
- The $500M term loan available on or before July 8, 2022, to repay remaining obligations on notes and for general corporate purposes.
- Covenants include maximum 4.0x gross leverage ratio; pricing grid based on leverage.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1116132/000114036122018834/0001140361-22-018834-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1116132/000114036122018834/ny20004200x2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-018834

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