By Andrea Heisinger
Omaha, Sept. 12 - Hasbro, Inc. priced a downsized $350 million of 6.3% 10-year notes Wednesday to yield Treasuries plus 200 basis points, according to an informed source.
The issue was planned for $600 million in two tranches of 10-year and 30-year notes.
The notes (Baa2/BBB) have a price of 99.671 with a yield of 6.345%. They have a make-whole call at Treasuries plus 30 bps.
Bookrunners were Banc of America Securities LLC and Citigroup Global Markets Inc.
Proceeds will be used to repay outstanding debt under the company's revolving credit facility, with the remainder used for general corporate and working capital purposes.
The game and toy manufacturer is based in Pawtucket, R.I.
| Issuer: | Hasbro, Inc.
|
| Issue: | Notes
|
| Amount: | $350 million, downsized from $600 million
|
| Maturity: | Sept. 15, 2017
|
| Bookrunners: | Banc of America Securities LLC, Citigroup Global Markets Inc.
|
| Coupon: | 6.3%
|
| Price: | 99.671
|
| Yield: | 6.345%
|
| Spread: | Treasuries plus 200 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
| Trade date: | Sept. 12
|
| Settlement date: | Sept. 17
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
