Mattel
Mattel is a United States-based toy industry association company founded by Elliot Handler.
Key facts
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| Company Operating Status | Active |
|---|---|
| Full Address | 333 Continental Blvd, El Segundo, California 90245, US |
| Indeed ID | Mattel,-Inc. |
| Legal Entity Identifier | 549300VELLG24KHTJ564 |
| Public/Private | Public |
| Stock Symbol | NASDAQ:MAT |
| Wellfound ID | mattel |
| Wikidata ID | Q596139 |
Covenant analysis
| Covenant | Term | vs market | Source |
|---|---|---|---|
| Cross-Default · Event of Default | Cross-default triggered by failure to pay or acceleration of other Indebtedness exceeding $100,000,000 (Threshold Amount) | tight $100m vs event of default median $125m (n=62) | source ↗ |
| Consolidated Total Leverage Ratio (Material Acquisition Step-Up) · Financial Maintenance | Maximum 4.25:1.00 for the fiscal quarter of a Material Acquisition and the four consecutive fiscal quarters immediately thereafter | market 4.25x vs leverage median 4x (n=99) | source ↗ |
| Restriction on Fundamental Changes · Negative Covenant - M&A | No mergers, consolidations, or disposition of all or substantially all assets, subject to carve-outs for permitted transactions | source ↗ | |
| EBITDA Non-Recurring Cash Expense Cap · EBITDA Definition Limitation | Non-recurring/one-time cash expenses capped at (X) $275,000,000 from Effective Date through Maturity Date and (Y) $150,000,000 for any Measurement Period | source ↗ | |
| Sanctions Restriction · Negative Covenant - Sanctions | No use of proceeds to fund activities of sanctioned persons or in Designated Jurisdictions | source ↗ | |
| Anti-Corruption Restriction · Negative Covenant - Anti-Corruption | No use of proceeds for purposes that would breach FCPA, UK Bribery Act, or similar laws | source ↗ | |
| Increase in Commitments · Incremental Facility | Borrower may request commitment increases up to $500,000,000 in aggregate, in minimum amounts of $50,000,000 | source ↗ | |
| Consolidated Total Leverage Ratio (Q3) · Financial Maintenance | Maximum 4.00:1.00 for fiscal quarters ended September 30 of each year | market 4x vs leverage median 4x (n=99) | source ↗ |
| Lien Basket (General) · Negative Covenant - Liens | Other Liens on assets securing obligations not exceeding the greater of $450,000,000 or 20% of Consolidated Net Worth, less any Indebtedness incurred under Section 7.02(j) | market 20% vs basket median 20% (n=122) | source ↗ |
| Indebtedness Basket (General Other) · Negative Covenant - Indebtedness | Other Indebtedness not exceeding the greater of $450,000,000 or 20% of Consolidated Net Worth, less obligations secured by Liens under Section 7.01(p) | market 20% vs basket median 20% (n=122) | source ↗ |
| Consolidated Interest Coverage Ratio · Financial Maintenance | Minimum 2.75:1.00 | tight 2.75x vs coverage median 1.7x (n=40) | source ↗ |
| Consolidated Total Leverage Ratio (Q1, Q2, Q4) · Financial Maintenance | Maximum 3.75:1.00 for fiscal quarters ended March 31, June 30 and December 31 of each year | market 3.75x vs leverage median 4x (n=99) | source ↗ |
Contact details
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