logo
Plus   Neg
Share
Email

Mattel Shares Down After Terminating Bond Sale On Whistleblower Letter

Shares of Mattel Inc. (MAT) slipped over 9 percent in after-hours trading on Thursday after the U.S. toys maker said it canceled a planned debt offering in order to investigate an "anonymous whistleblower letter."

The company disclosed in a regulatory filing that it was made aware of an anonymous whistleblower letter on August 6. It terminated the sale of senior notes due in 2027 to provide the company with an opportunity to investigate the matters set for the in the letter. But, it did n't disclose any other details about the letter.

The sale was scheduled to close on August 8. The company intends to refinance its 4.350% Senior Notes due October 2020 prior to maturity.

MAT closed regular trading at $13.43, up $0.31 or 2.36 percent. But, in the after-hours trade, the stock dropped $1.27 or 9.46 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Swiss food giant Nestle SA said it is committed to achieving zero net greenhouse gas emissions by 2050, noting that climate change is one of the biggest threats faced by the world. As part of its efforts to achieve the goal, Nestle said it will launch more plant-based food and beverage options that are more environment friendly. Coffee giant Starbucks Corp. is set to open the world's largest Starbucks Reserve Roastery on November 15 on Chicago's Magnificent Mile. It will open in an interactive four-storey glass-clad building in 43,000 square feet space, employing about 200 people. The site at the corner of North Michigan Avenue and Erie Street was previously occupied by Crate & Barrel. United Parcel Service Inc. agreed to pay $8.4 million to the United States to settle allegations that it overcharged federal agencies for package delivery services, the U.S. Justice Department said. Under a General Services Administration or GSA contract, UPS was required to provide GSA with certain lower prices for its services.
Follow RTT