secwatch.observer — SEC 8-K summary
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Issuer:     TAPESTRY, INC. (TPR)
CIK:        0001116132
Form:       8-K
Filed at:   2025-05-23T23:59:59+00:00
Accession:  0001140361-25-020276
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1116132/000114036125020276/0001140361-25-020276-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1116132/000114036125020276/ef20049426_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-25-020276

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