FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Bloomberg: Mattel Boosts Line of Credit to $1.6B From $1.4B

March 11, 2013, 02:54 PM
Filed Under: Manufacturing

Bloomberg reported Mattel Inc. increased its revolving line of credit, while cutting the interest rate and extending its maturity.

The toymaker increased commitments under the loan to $1.6 billion from $1.4 billion, the El Segundo, California-based company said today in a regulatory filing. Mattel may boost the loan to $1.85 billion using a so-called accordion feature under terms of the credit pact.

Bank of America Corp., Wells Fargo & Co. and Citigroup Inc. arranged the loan, which will pay interest ranging from 0.875 percentage point to 1.75 percentage points more than the London interbank offered rate, depending upon its debt rating, according to the company. Under the credit pact dated March 2011, the loan was paying interest at 1.25 percentage points to 2.5 percentage points more than Libor.

The loan, which was due in March 2015, will now expire in March 2018, according to the company.

View the entire Bloomberg story.

Week's News

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.