Tapestry, Inc. Prices Senior Unsecured Notes Offering
04 Décembre 2024 - 11:50PM
Business Wire
Tapestry, Inc. (NYSE: TPR) a house of iconic accessories and
lifestyle brands consisting of Coach, Kate Spade, and Stuart
Weitzman, announced the pricing of its offering of $750.0 million
aggregate principal amount of 5.100% senior unsecured notes due
2030 and $750.0 million aggregate principal amount of 5.500% senior
unsecured notes due 2035. The offering is expected to close,
subject to normal closing conditions, on December 11, 2024.
The Company intends to use the net proceeds from this offering,
together with cash on hand, to repay outstanding loans under its
term loan credit agreement and to repay borrowings under its
revolving credit facility, which were used to fund the share
repurchases under the Company’s accelerated share repurchase
agreements, and for general corporate purposes.
BofA Securities, Morgan Stanley, and J.P. Morgan are acting as
joint lead book-running managers for the offering.
Important Information
The securities described above are being offered pursuant to an
automatic shelf registration statement on Form S-3 (File No.
333-276823) filed by the Company on February 1, 2024, and only by
means of a prospectus supplement and accompanying prospectus. A
preliminary prospectus supplement and an issuer free writing
prospectus have been filed, and a prospectus supplement related to
the offering and accompanying prospectus have been or will be filed
with the Securities and Exchange Commission (the “SEC”) and are or
will be available on the SEC’s website located at
http://www.sec.gov.
When available, copies of the prospectus supplement and the
accompanying prospectus relating to these securities may be
obtained from any of (i) BofA Securities, Inc., NC1-022-02-25, 201
North Tryon Street, Charlotte, North Carolina 28255, Attention:
Prospectus Department or by email at
dg.prospectus_requests@bofa.com or by telephone at 1-800-294-1322;
(ii) Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor,
New York, New York 10014, Attention: Prospectus Department or by
email at prospectus@morganstanley.com or by telephone at
1-866-718-1649; or (iii) J.P. Morgan Securities LLC, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, New York
11717 or call collect at 212-834-4533.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Tapestry, Inc.
Our global house of brands unites the magic of Coach, kate spade
new york and Stuart Weitzman. Each of our brands are unique and
independent, while sharing a commitment to innovation and
authenticity defined by distinctive products and differentiated
customer experiences across channels and geographies. We use our
collective strengths to move our customers and empower our
communities, to make the fashion industry more sustainable, and to
build a company that’s equitable, inclusive, and diverse.
Individually, our brands are iconic. Together, we can stretch
what’s possible. The Company’s common stock is traded on the New
York Stock Exchange under the symbol TPR.
This press release may contain certain “forward-looking
statements” within the meaning of the federal securities laws,
including Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
and are based on management’s current expectations, that involve
risks and uncertainties that could cause our actual results to
differ materially from our current expectations. Forward statements
in this press release include, but are not limited to, the proposed
offering (including the consummation thereof) and statements that
can be identified by use of forward-looking terminology such as
“may,” “can,” “continue,” “project,” “assumption,” “should,”
“expect,” “confidence,” “goals,” “trends,” “anticipate,” “intend,”
“estimate,” “on track,” “future,” “well positioned to,” “plan,”
“potential,” “position,” “believe,” “seek,” “see,” “will,” “would,”
“target,” similar expressions, and variations or negatives of these
words. Forward-looking statements by their nature address matters
that are, to different degrees, uncertain. Such statements involve
risks, uncertainties and assumptions. If such risks or
uncertainties materialize or such assumptions prove incorrect, our
results could differ materially from those expressed or implied by
such forward-looking statements and assumptions. All statements
other than statements of historical fact are statements that could
be deemed forward-looking statements. We assume no obligation to
revise or update any such forward-looking statements for any
reason, except as required by law. Our actual results could differ
materially from the results contemplated by these forward-looking
statements and are subject to a number of risks, uncertainties,
estimates and assumptions that may cause actual results to differ
materially from current expectations due to a number of factors,
including, but not limited to: the impact of economic conditions,
recession and inflationary measures; our exposure to international
risks, including currency fluctuations and changes in economic or
political conditions in the markets where we sell or source our
products; our ability to retain the value of our brands and to
respond to changing fashion and retail trends in a timely manner,
including our ability to execute on our e-commerce and digital
strategies; our ability to successfully implement the initiatives
under our 2025 growth strategy; the effect of existing and new
competition in the marketplace; our ability to achieve intended
benefits, cost savings and synergies from acquisitions; our ability
to control costs; the effect of seasonal and quarterly fluctuations
on our sales or operating results; the risk of cyber security
threats and privacy or data security breaches; our ability to
satisfy our outstanding debt obligations or incur additional
indebtedness; the risks associated with climate change and other
corporate responsibility issues; the impact of tax and other
legislation; the risks associated with potential changes to
international trade agreements and the imposition of additional
duties on importing our products; our ability to protect against
infringement of our trademarks and other proprietary rights; and
the impact of pending and potential future legal proceedings. These
factors are not necessarily all of the factors that could cause
actual results to differ materially from those expressed in any of
our forward-looking statements. Please refer to the Company’s
latest Annual Report on Form 10-K and its other filings with the
SEC for a complete list of risks and important factors.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241204615852/en/
Tapestry, Inc. Media: Andrea Shaw Resnick Chief Communications
Officer 212/629-2618 aresnick@tapestry.com Analysts and Investors:
Christina Colone Global Head of Investor Relations 212/946-7252
ccolone@tapestry.com
Tapestry (NYSE:TPR)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024
Tapestry (NYSE:TPR)
Graphique Historique de l'Action
De Déc 2023 à Déc 2024