Mattel (MAT) just unveiled an update.
Mattel, Inc. has secured a significant $1.4 billion senior unsecured revolving credit facility, set to mature in 2029, with interest rates linked to Term SOFR or the Base Rate, plus varying margins. This flexible financial tool allows Mattel to voluntarily make prepayments without penalties and includes standard covenants limiting certain corporate actions. Additionally, the agreement mandates the maintenance of specific financial ratios, ensuring the company’s leverage remains within agreed limits. This strategic move bolsters Mattel’s financial agility, underscoring its proactive management of capital resources.
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