Mattel Inc. announced May 21 that it plans to offer an additional $500 million in aggregate principal amount of its 6.75% senior notes due 2025.
The toymaker initially issued on Dec. 15, 2017, a $1 billion private offering of 6.75% senior notes due 2025, which closed Dec. 20, 2017.
The new batch of notes will be issued under the same Dec. 20, 2017, indenture.
Mattel will use the net proceeds from this new offering, along with cash on hand, to redeem and retire all of its 2.35% senior notes due 2019 as well as pay its other related prepayment premiums, transaction fees and expenses.
