Tapestry Disclosed Commencement Of An Underwritten Public Offering Of Euro-Denominated Senior Unsecured Notes
Portfolio Pulse from Benzinga Newsdesk
Tapestry has announced the start of an underwritten public offering of Euro-denominated senior unsecured notes. The proceeds will be used in conjunction with new term loans, additional debt financing, cash on hand, and anticipated future cash flow, including cash from Capri Holdings Limited, to fund a portion of the acquisition costs of Capri Holdings and related expenses.
November 16, 2023 | 8:33 am
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Tapestry is raising funds through a public offering of Euro-denominated notes to partially finance the acquisition of Capri Holdings. This move may affect the company's debt levels and interest expenses.
The offering of Euro-denominated notes by Tapestry is a significant step in financing its acquisition of Capri Holdings. While this could increase the company's debt burden, it is also a strategic move to grow its business. The impact on the stock price is uncertain in the short term as the benefits of the acquisition may balance out concerns over increased debt.
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