Bond sale shrinks Hasbro debt

Hasbro has sold $500m of bonds as part of its debt reduction plan.
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The firm initially marketed $400 million in debt, according to reports, but increased the size of the 30-year bond offering to meet demand.

Hasbro expects to use the money to refinance its outstanding convertible debentures and for general expenses.

Last May, the company sold $425 million of 6.125 per cent five-year notes.

Hasbro owed $1.13 billion in long-term debt at the end of 2009, more than double the $495 million of debt on the company’s balance sheet three years earlier.

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