Toy maker Hasbro to sell $500 million notes to lower debt

Hasbro to sell $500 million notes to lower debt

PAWTUCKET, R.I. — Toy maker Hasbro Inc. is selling $500 million worth of notes to help pay down its debt.

The company, according to a regulatory filing, has entered into an underwriting agreement with Banc of America Securities LLC and Citigroup Global Markets Inc., which will purchase the notes. The offering is expected to close on Thursday.

Shares of Hasbro, the nation’s second-largest toy maker after Mattel Inc., with brands including Transformers and Nerf, rose 42 cents to $37.92 in early afternoon trading Tuesday.

It is based in Pawtucket, R.I.