Toymaker Mattel Inc. on May 23 priced its previously announced offering of $500 million aggregate principal amount of 6.750% senior notes due 2025, expected to close on May 31.
The new notes will be issued as additional notes under the Dec. 20, 2017 indenture, and will form a single series and trade interchangeably with the existing notes.
The toymaker previously issued a $1 billion private offering of 6.75% senior notes due 2025, which closed on Dec. 20, 2017.
The company intends to use the funds raised from the sale of new notes to redeem and retire all of its 2.350% senior notes due 2019 and pay related prepayment premiums and transaction fees and expenses.
