Spielwarenmesse: Mattel, Inc. announces pricing of private offering of Senior Notes due 2025

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Mattel, Inc. announces pricing of private offering of Senior Notes due 2025

18. December 2017 08:58 h:

Mattel, Inc. has announced that it has priced the previously announced offering of $1,000,000,000 aggregate principal amount of 6.75% Senior Notes due 2025. The closing of the offering is expected to occur on December 20, 2017, subject to customary closing conditions. The notes will be guaranteed on a senior unsecured basis by all of the Company’s existing and future wholly owned domestic restricted subsidiaries that will be borrowers or guarantors under its new senior secured revolving credit facilities, which are expected to close concurrently with or prior to the issuance of the notes.

The Company intends to use the net proceeds from the sale of the notes, plus cash on hand, to:

  • Repay all of its 1.700% Senior Notes due 2018 upon or before maturity,
  • Repay all outstanding borrowings related to its commercial paper program,
  • Satisfy all outstanding obligations under and terminate the commitments under its existing revolving credit facility and
  • Pay related transaction fees and expenses.

The notes are being sold in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and to non-U.S. persons outside the United States under Regulation S under the Securities Act. The notes and related guarantees have not been registered under the Securities Act, and unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.

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