Hasbro tenders for 8½% notes

New York, Nov. 24 - Hasbro Inc. (Ba3/BB) said that it has begun a tender offer for all $200 million of its outstanding 8½% senior unsecured notes due 2006.

It set an early tender deadline of 5 p.m. ET on Dec. 8, and said that the offer would expire at 12 midnight ET on Dec. 22, with both deadlines subject to possible extension.

Hasbro, a Pawtucket, R.I.-based maker of toys and games, said that it is offering to purchase all of the outstanding notes for $1,130 per $1,000 principal amount. The total includes a $20 per $1,000 principal amount early tender premium for holders who tender by the early tender deadline. Holders tendering after the early tender deadline but before the expiration will receive $1,110 per $1,000 principal amount. All tendering holders will also receive accrued and unpaid interest up to, but not including, the payment date for the notes.

Hasbro said that the tender offer would be conditioned on, among other things, the absence of a material adverse change or similar event affecting Hasbro, its ability to consummate the tender offer or the value or trading market for the notes.

The dealer-managers for the tender offer are Bear, Stearns & Co. Inc. (contact the Global Liability Management Group at 877 696-2327) and Barclays Capital Inc. (contact the Liability Management Group at 888 227-2275). The information agent is D.F. King & Co., Inc. (800 207-3158).

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