Mattel enters $1.4B revolving credit facility maturing 2029

MATTEL INC /DE/

New $1.4B senior unsecured revolving credit facility matures July 15, 2029.
Interest at Term SOFR + 0.875%-1.375% or Base Rate + 0%-0.375%, based on debt rating.
Covenants: interest coverage >=2.75x; leverage <=3.75x (4.00x on Sep 30) with step-up to 4.25x for acquisitions.
Prior $1.4B credit agreement dated Sept 15, 2022 terminated upon closing.

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