MATTEL, INC. (NASDAQ:MAT) Files An 8-K Entry into a Material Definitive Agreement
Item1.01. Entry into a Material Definitive Agreement.
On June15, 2017, Mattel, Inc. (Mattel) entered into an amendment
(the Amendment) to the Seventh Amended and Restated Credit
Agreement (the Credit Facility), by and among Mattel, as
borrower, Bank of America, N.A., as Administrative Agent, Merrill
Lynch, Pierce, Fenner Smith Incorporated, Wells Fargo Securities,
LLC and Citigroup Global Markets Inc., as Joint Lead Arrangers
and Joint Bookrunners, Wells Fargo Bank, N.A. and Citibank N.A.,
as Co-Syndication Agents, Mizuho Corporate Bank, Ltd., MUFG Union
Bank, N.A., and Royal Bank of Canada, as Co-Documentation Agents, and
the other financial institutions party thereto.
The Amendment
amends the Credit Facility to, among other things, increase the
consolidated-debt to Consolidated EBITDA ratio that Mattel is
required to maintain under the Credit Facility to 3.75 to 1 from
3.50 to 1 for the four consecutive fiscal quarters beginning with
the current fiscal quarter.
Many of the
lenders party to the Credit Facility and their respective
affiliates have various banking arrangements with Mattel in the
ordinary course of business, for which they receive customary
fees and expenses.
The foregoing
summary of the Amendment is qualified in its entirety by
reference to the actual text of the Amendment, a copy of which is
filed herewith as Exhibit 10.1.
Item2.03.
Creation of a Direct Financial Obligation or an Obligation under
an Off-Balance Sheet Arrangement of a Registrant.
The information
set forth in Item1.01 above is incorporated by reference into
this Item2.03.
| Item9.01. | Financial Statements and Exhibits. |
| (d) Exhibits: |
|
ExhibitNo. |
Exhibit Description |
|
| 10.1 |
Amendment No.1 to Seventh Amended and Restated Credit Agreement dated as of June8, 2015, by and among Mattel, Inc., as Borrower, Bank of America, N.A., as Administrative Agent, Merrill Lynch, Pierce, Fenner Smith Incorporated, Wells Fargo Securities, LLC and Citigroup Global Markets Inc., as Joint Lead Arrangers and Joint Bookrunners, Wells Fargo Bank, N.A. and Citibank N.A., as Co-Syndication Agents, Mizuho Bank, Ltd., MUFG Union Bank, N.A., and Royal Bank of Canada, as Co-Documentation Agents, and the other financial institutions party thereto. |
About MATTEL, INC. (NASDAQ:MAT)
Mattel, Inc. manufactures and markets a range of toy products around the world. The Company’s segments are North America; International and American Girl. Its portfolio of brands and products are grouped into approximately four major brand categories, including Mattel Girls & Boys Brands, Fisher-Price Brands, American Girl Brands and Construction and Arts & Crafts Brands. The Mattel Girls & Boys Brands category includes Barbie fashion dolls, Monster High, Disney Classics, Ever After High, Little Mommy, and Polly Pocket, Hot Wheels and Matchbox vehicles and play sets, and CARS, Disney Planes, BOOMco, Toy Story, Max Steel, WWE Wrestling and DC Comics. The Fisher-Price Brands category includes Fisher-Price, Little People, BabyGear, Laugh & Learn, Imaginext, Thomas & Friends, Blaze and The Monster Machines, Shimmer and Shine, Mickey Mouse Clubhouse, Minnie Mouse, Octonauts, and Power Wheels. The Construction and Arts & Crafts Brands category includes MEGA BLOKS, RoseArt and Board Dudes.