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

Hasbro completes offering to sell $500M in notes

PAWTUCKET, R.I. — Toymaker Hasbro Inc. said Thursday that it completed a public offering of $500 million in notes to help pay down its debt.

The 30-year notes bear an interest rate of 6.35 percent each year.

Other proceeds will be used for general corporate purposes including capital expenditures, acquisitions and share repurchases.

Shares of Hasbro, the nation’s second-largest toy maker after Mattel Inc., with brands including Transformers and Nerf, rose 8 cents to $38.09 in midday trading Thursday. Earlier the stock set a 52-week high of $38.14.