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EL SEGUNDO, Calif. - Mattel, Inc. (NASDAQ:MAT) announced Thursday it has priced a $600 million public offering of 5.000% Senior Notes due 2030. The notes will be senior, unsecured obligations maturing on November 17, 2030, with the offering expected to close on or about November 17, 2025.
The toy manufacturer plans to use the proceeds, along with cash on hand, to redeem all of its outstanding 3.375% Senior Notes due 2026 and pay related fees and expenses.
BofA Securities, Citigroup Global Markets, Wells Fargo Securities, and Goldman Sachs are serving as joint book-running managers for the offering. Some of the underwriters or their affiliates currently hold portions of the 2026 notes being redeemed.
The offering was made under a shelf registration statement that became automatically effective when filed with the Securities and Exchange Commission on October 30, 2025. A preliminary prospectus supplement has been filed, and a final prospectus supplement will follow.
Mattel, known for brands including Barbie, Hot Wheels, and Fisher-Price, filed the offering pursuant to securities regulations. The company noted in its press release statement that this announcement does not constitute an offer to purchase or a solicitation to sell the existing 2026 notes.
The transaction represents a refinancing of Mattel's existing debt obligations through the issuance of new longer-term notes at current market rates.
In other recent news, Mattel Inc. reported its third-quarter earnings for 2025, which fell short of expectations. The company posted earnings per share (EPS) of $0.89, missing the anticipated $1.06, and reported revenue of $1.74 billion, below the forecasted $1.84 billion. Despite these results, Mattel reiterated its full-year guidance, indicating confidence in a strong holiday season performance. CFRA downgraded Mattel's stock from Buy to Hold, lowering its price target to $20.00 due to concerns about elevated tariffs and declines in key segments. Additionally, CFRA adjusted its earnings per share estimates to $1.50 for 2025 and $1.60 for 2026. DA Davidson also revised its price target for Mattel, reducing it to $25.00 from $30.00, while maintaining a Buy rating. These developments highlight the challenges and strategic adjustments Mattel faces in its operating environment.
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