JAKKS Pacific, Inc. Announces Successful Completion of Debt Refinancing

Published: 2025-06-25 11:41:27 ET JAKK

Published on 06/25/2025 at 11:41

JAKKS Pacific, Inc. announced that on June 24, 2025 it refinanced its existing asset-based revolving credit facility with a new cash flow based first lien secured revolving credit facility with BMO Bank NA (?BMO?) with a term ending in 2030. The new first lien secured credit facility replaced the Company's existing $67.5 million revolving credit facility maturing in June 2026. Any amounts borrowed under the new credit facility will have an interest rate equal to the applicable Secured Overnight Financing Rate ("SOFR") plus 150 basis points (or higher depending on the immediately preceding quarterly net leverage ratio).

The new credit facility is secured by substantially all of the assets of the Company and may be used for working capital, capital expenditures and other general corporate purposes. No indebtedness was outstanding on the existing facility.