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JAKKS Pacific extends maturity date on senior notes

Published 08/03/2017, 08:12 AM
© Reuters.  JAKKS Pacific extends maturity date on senior notes
JAKK
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  • JAKKS Pacific (NASDAQ:JAKK) announces that the company worked out an agreement with Oasis Management and Oasis Investments II Master Fund to extend the maturity date and reduce the interest rate of senior notes.
  • After the modification the balance of the face amount of the 2018 notes will have been reduced to ~$21.15M.
  • The modified note will be convertible at the option of the holder into shares of JAKK's common stock.
  • "We look forward to being able to conclude this transaction as it will enhance our balance sheet flexibility for the future, while also reducing our interest costs because of the lower coupon," notes JAKKS CEO Stephen Berman.
  • JAKK closed -1.56% at $3.15.
  • Source: Press Release
  • Now read: Orient Paper reports Q2 results


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