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Report: Mattel asked banks to delay, not scrap, $250M bond sale

Mattel Inc. asked banks to delay its proposed offering of debt "for just a couple of days" and not to entirely scrap the plan, Bloomberg News reported Aug. 13, citing people who have communicated with company officials.

The U.S. toymaker on Aug. 8 withdrew the planned offering of $250 million worth of its 6.00% senior notes due 2027 following the receipt of a whistleblower letter. Mattel's stock fell nearly 10% following the announcement.

According to the report, one of the banks involved in Mattel's planned bond sale balked at a postponement since the notes had already been priced.

Another source told the news outlet that the banks were made aware of the letter after the pricing.

Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. were the banks involved in the plan.

Bloomberg said representatives for Mattel, Bank of America, Citigroup and Wells Fargo all declined to comment.

Shares of Mattel appear to be unfazed by the news as the company's stock rose as much as 13.18% to $12.45 in New York trading, following the Trump administration's decision to delay tariffs on consumer products imports from China, including toys, to Dec. 15 from Sept. 1.

Mattel rival Hasbro Inc. also saw its stock climb as much as 6.92% to $120.97 following the White House's decision.