secwatch.observer — SEC 8-K summary
======================================

Issuer:     TAPESTRY, INC. (TPR)
CIK:        0001116132
Form:       8-K
Filed at:   2023-11-27T23:59:59+00:00
Accession:  0001140361-23-054703
Event type: debt
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tapestry closes $6.1B senior notes offerings, fully funds $7.5B Capri acquisition financing
--------------------------------------------------------------------------------

- Raised $4.5B USD notes and €1.5B EUR notes, combined with $1.4B delayed draw term loans.
- All-in debt interest rate of 6.5%, consistent with expectations, supports double-digit adjusted EPS accretion.
- Terminated $6.6B bridge facility with proceeds.
- Target gross leverage below 2.5x Debt/adjusted EBITDA within 24 months post-close.
- Oversubscribed orders from hundreds of global fixed income investors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1116132/000114036123054703/0001140361-23-054703-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1116132/000114036123054703/ny20014590x8_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-054703

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer