Tapestry Inc (TPR)

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C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	COND	PRCD	TPR	Tapestry Inc	€1,500		3	USOA	Nov 16, 2023

Tranche #1Tapestry Inc

currency

EUR

size (m)

500.000

maturity

Nov 27, 2025

type

Fixed

tenor

2.000

call

registration

SEC Registered

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Baa2

s&p

BBB

fitch

size description

re-open/tap

ipt

MS+230 a

ipt-pxd

guidance

MS+205 a

spread

195

coupon

5.35%

spread set

price

99.87800

yield

5.416%

book size (m)

2,400

peak book (m)

x-covered

4.8

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

2,400

peak book (m)

x-covered

4.8

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche #2Tapestry Inc

currency

EUR

size (m)

500.000

maturity

Nov 27, 2027

type

Fixed

tenor

4.000

call

registration

SEC Registered

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Baa2

s&p

BBB

fitch

size description

re-open/tap

ipt

MS+270 a

ipt-pxd

guidance

MS+245 a

spread

235

coupon

5.375%

spread set

price

99.72300

yield

5.454%

book size (m)

2,800

peak book (m)

x-covered

5.6

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

2,800

peak book (m)

x-covered

5.6

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche #3Tapestry Inc

currency

EUR

size (m)

500.000

maturity

Nov 27, 2031

type

Fixed

tenor

8.000

call

registration

SEC Registered

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Baa2

s&p

BBB

fitch

size description

re-open/tap

ipt

MS+335 a

ipt-pxd

guidance

MS+305 a

spread

295

coupon

5.875%

spread set

price

99.24800

yield

5.996%

book size (m)

4,800

peak book (m)

x-covered

9.6

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

4,800

peak book (m)

x-covered

9.6

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

2 yr: Book size: 2400; First Pay: 2024-11-27; Redemption: 2025-02-10; Registration: SEC Registered; Comments: EUR500m 2yr bmk snr unsec SEC regd. Baa2/BBB/NR. BofA(2yr B&D)/MS(4yr/8yr B&D)/JPM. IPTs MS+230 area. Guidance MS+205 area. Launch MS+195. Final books 2.4bn+. HR 107% OBL 0 10/25+243.2 @94.60. CoC: 101%. MWC: B+40bps. Reset Date: 2025-02-10. LEI: 549300LJNVY5SW3VTN33; 4 yr: Book size: 2800; First Pay: 2024-11-27; Redemption: 2027-10-27; Registration: SEC Registered; Comments: EUR500m 4yr bmk snr unsec SEC regd. Baa2/BBB/NR. BofA(2yr B&D)/MS(4yr/8yr B&D)/JPM. IPTs MS+270 area. Guidance MS+245 area. Launch MS+235. Final books 2.8bn+. HR 98% OBL 1.3 10/27+291.8 @95.46. CoC: 101%. MWC: B+45bps. Par Call: 1m. LEI: 549300LJNVY5SW3VTN33; 8 yr: Book size: 4800; First Pay: 2024-11-27; Redemption: 2031-08-27; Registration: SEC Registered; Comments: EUR500m 8yr bmk snr unsec SEC regd. Baa2/BBB/NR. BofA(2yr B&D)/MS(4yr/8yr B&D)/JPM. IPTs MS+335 area. Guidance MS+305 area. Launch MS+295. Final books 4.8bn+. HR 99% DBR 0 8/31+351.0 @82.70. CoC: 101%. MWC: B+55bps. Par Call: 3m. LEI: 549300LJNVY5SW3VTN33;

Deal Comments

Joint Bookrunners: BAM(B&D) (2yr), MOS(B&D) (4yr, 8yr), JPM

Use of Proceeds

M&A

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