The Business Times

Companies & Markets

The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Companies & Markets

SUBSCRIBERS

Mattel wins loan concessions in Toys 'R' Us bankruptcy aftermath

Published Fri, Sep 22, 2017 · 09:50 PM
Share this article.

New York

MATTEL Inc won some concessions on its US$1.6 billion credit line, just two days after Toys 'R' Us collapsed into a bankruptcy that reverberated through the retail industry.

The toymaker removed a requirement that it meet certain performance goals from the third fiscal quarter and widened a ratio allowing it to increase debt related to earnings from the quarter after that, according to a regulatory filing. It also tweaked a definition of earnings which allows it to add back certain numbers that may ultimately boost profit.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Companies & Markets

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here