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updated: 3/4/2013 10:18 AM

Mattel said to plan $500 million bond offering to refinance debt

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Bloomberg News

Mattel Inc. plans to raise $500 million with bonds as the world's biggest toymaker prepares to refinance outstanding obligations.

The company intends to sell equal $250 million portions of five- and 10-year securities, according to a person familiar with the offering. Proceeds will be used to repay debt, including its $350 million of 5.625 percent securities due this month, the El Segundo, California-based company said today in a regulatory filing.

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The new bonds may be rated Baa1 from Moody's Investors Service, said the person, who asked not to be identified, citing lack of authorization to speak publicly.

--Editors: Richard Bravo, John Parry

To contact the reporter on this story: Charles Mead in New York at cmead11bloomberg.net

To contact the editor responsible for this story: Alan Goldstein at agoldstein5bloomberg.net

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