Tapestry Inc Launches Bond Sale to Repay Loans After Acquisition Failure

Tapestry Inc., the parent company of Coach and Kate Spade, is venturing into the investment-grade bond market for the first time after the cancellation of its acquisition of Capri Holdings Ltd.

The company intends to issue Bloomberg Terminal bonds in potentially two parts, following investor interest expressed a day before the sale. The bond offering includes a 10-year note, which is projected to have a yield approximately 1.6 percentage points higher than Treasury rates.

This move is part of Tapestry's efforts to repay loans associated with the abandoned acquisition deal, showcasing the company's strategic financial maneuvers in a challenging market environment.

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