1 #4526 21/11/2024 09h09
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Oblible, le 22/11/2023 a écrit :
Pour Tapestry :
ISIN Number:
2025 Notes: US876030AB38
2026 Notes: US876030AC11
2028 Notes: US876030AD93
2030 Notes: US876030AE76
2033 Notes: US876030AF42
Tapestry va renoncer à l’achat de Capri et rembourser toutes les obligations émises
Ils vont faire appel à la "Special Mandatory Redemption" pour ne rembourser que 101% du nominal + coupons courus.
Bond Tapestry US876030AF42 in USD 7.85%, échéance 26/11/2033
Special Mandatory Redemption:
If (i) the Capri Acquisition has not been completed by February 10, 2025 (or such later date mutually agreed between the Issuer and Capri) (such date, the “special mandatory redemption end date”), (ii) prior to the special mandatory redemption end date, the Merger Agreement is terminated in accordance with its terms or (iii) the Issuer otherwise notifies the trustee that it will not pursue the consummation of the Capri Acquisition, all of the 2025 Notes, 2026 Notes, 2028 Notes, 2030 Notes and 2033 Notes will be redeemed at a redemption price equal to 101% of their principal amount, plus accrued and unpaid interest to, but excluding, the special mandatory redemption date.
Tapestry Is Buying Back Bonds Issued to Fund Capri Purchase
Tapestry Inc. is planning to buy back $6.1 billion of bonds it sold to fund its now blocked purchase of Capri Holdings, after abandoning the deal due to antitrust pressure.
The owner of the Coach and Kate Spade brands will redeem the debt at 101 cents on the dollar or euro, according to language in the company’s bond documents. Buying back the notes at just a bit above par will hand paper losses to investors holding bonds that had recently traded higher.
The 10-year notes that Tapestry issued were trading at more than 109 cents on the dollar last month, before a federal judge blocked the company’s planned acquisition after concluding it would harm competition in the market for “accessible luxury” handbags. The bond traded at 103 cents on the dollar on Wednesday.
Tapestry And Capri Call Off $8.5B Deal Amid Legal Hurdles
Following the termination of the merger agreement, Tapestry will redeem $6.1 billion in senior notes tied to the acquisition, paying 101% of their principal amount plus accrued interest, as per the Special Mandatory Redemption clause.
Full Call: TPR@OTC
TPR@OTC announced it will become subject to a full call, effective as of 20241125.
ISIN: US876030AF42
Parrain Interactive Brokers (par MP) - Déclaration fiscale IBKR Degiro Trade Republic - Parrain Qonto (par MP) -- La bible des obligations
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