Tapestry enters $2B revolving credit facility maturing 2030, replacing prior facility

TAPESTRY, INC.

New $2B unsecured revolving credit facility with maturity May 22, 2030.
Includes $125M letter of credit sublimit and $50M swingline loans.
Accordion feature allows up to $750M increase subject to conditions.
Negative covenants include max net leverage ratio of 4.0:1.0 (4.5 after material acquisition).
Pricing grid based on Gross Leverage Ratio; margin ranges 0.805%-1.225% for Term SOFR.

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