Mattel said it is terminating the sale of senior notes due in 2027 because of 'an anonymous whistleblower letter.'
Mattel said it is terminating the sale of senior notes due in 2027 because of an anonymous whistleblower letter.Mattel said it intends to refinance bonds that are due in October 2020, prior to maturity.Stan Honda | AFP | Getty Images
shares cratered more than 11% Friday morning after the toymaker said Thursday it would pull a bond sale because of "an anonymous whistleblower letter.", according to a filing. Mattel said it is terminating the sale of senior notes due in 2027 "to provide the company with an opportunity to investigate the matters set forth in the letter."
The sale had initially be scheduled to close on Thursday. Mattel said it intends to refinance bonds that are due in October 2020, prior to maturity.Shares of Mattel had risen 34% since January ahead of Mattel's filing. However, the stock is down around 14% from the same time last year.
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