Tapestry closes $1.5B senior unsecured notes offering (5.100% 2030 and 5.500% 2035)

TAPESTRY, INC.

Issued $750M 5.100% notes due 2030 and $750M 5.500% notes due 2035.
Proceeds with cash on hand to repay term loan and revolver borrowings used for ASR share repurchases and general purposes.
Interest payable semi-annually on March 11 and Sept 11, starting Sept 11, 2025.
Indenture covenants limit liens, sale-leaseback, and merger/asset transfers with exceptions.
Lead bookrunners: BofA Securities, Morgan Stanley, and J.P. Morgan.

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