Hasbro Closes $500 Million Notes Offering
September 13 2017 - 12:40PM
Business Wire
Hasbro, Inc. (NASDAQ: HAS) today announced the closing of
a public offering of $500 million aggregate principal amount of
Notes due 2027 (the "Notes").
The Notes will bear interest at a rate of 3.50% per year,
beginning September 13, 2017 with semi-annual payments commencing
March 15, 2018.
Hasbro currently intends to use the net proceeds from the sale
of the Notes to repay all of the $350 million aggregate principal
amount of its 6.30% Notes due 2017 upon their maturity plus accrued
and unpaid interest thereon. Hasbro plans to use the remaining net
proceeds for general corporate and working capital purposes, which
may include (but are not limited to) the acquisition of companies
or businesses, repayment and refinancing of indebtedness, capital
expenditures and repurchases of shares of its common stock.
Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P.
Morgan Securities LLC acted as representatives of the underwriters.
This offering was made under an effective registration statement on
file with the Securities and Exchange Commission. This press
release is not an offer to sell nor is it a solicitation of an
offer to buy any securities. Any offers to sell, or solicitations
to buy, will be made solely by means of a prospectus and related
prospectus supplement filed with the Securities and Exchange
Commission. Copies of the prospectus and prospectus supplement may
be obtained by contacting Merrill Lynch, Pierce, Fenner & Smith
Incorporated toll-free at (800) 294-1322 or dg.prospectus
requests@baml.com, or J.P. Morgan Securities LLC collect at (212)
834-4533.
About Hasbro: Hasbro (NASDAQ: HAS) is a global play
and entertainment company committed to Creating the World's
Best Play Experiences. From toys and games to television,
movies, digital gaming and consumer products, Hasbro offers a
variety of ways for audiences to experience its iconic brands,
including NERF, MY LITTLE PONY, TRANSFORMERS, PLAY-DOH, MONOPOLY,
LITTLEST PET SHOP and MAGIC: THE GATHERING. The
Company's Hasbro Studios and its film label, Allspark
Pictures, are building its brands globally through great
storytelling and content on all screens. Through its commitment to
corporate social responsibility and
philanthropy, Hasbro is helping to make the world a
better place for children and their families.
© 2017 Hasbro, Inc. All Rights Reserved.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: Various statements made in this release,
including our expectations with respect to the use of proceeds from
the offering, are forward-looking and involve a number of risks and
uncertainties. All statements that address activities, events or
developments that we intend, expect or believe may occur in the
future are forward-looking statements. Factors which might cause a
difference between actual and expected events include: (i) the
financial performance of Hasbro, Hasbro's future financial needs
and other opportunities of which Hasbro may become aware, as well
as other changes in market conditions, which could lead to changes
in Hasbro's plans for the use of the proceeds from the offering and
(ii) other factors which are discussed in Hasbro's public
announcements and SEC filings. Hasbro does not undertake any
obligation to update these forward-looking statements for events
occurring after the date of this press release.
HAS-IR
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version on businesswire.com: http://www.businesswire.com/news/home/20170913006186/en/
Hasbro, Inc.Investor Contact:Debbie Hancock,
401-727-5401debbie.hancock@hasbro.comorPress Contact:Julie Duffy,
401-727-5931julie.duffy@hasbro.com
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