Pawtucket-based toymaker Hasbro announced it privately sold $225 million of 20-year senior bonds convertible into company stock, $25 million more than planned, to refinance existing debt.
Hasbro said it will sell an additional $25 million of the bonds if there is enough demand.
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The bonds carried a 2.75 percent coupon and are convertible into Hasbro shares at $21.60, a 25 percent premium over the shares’ Monday closing price of $17.28 on the New York Stock Exchange.
Hasbro’s bonds may eventually be converted into about 10.42 million Hasbro shares. Hasbro had about 172.8 million shares outstanding as of Oct. 28, a securities filing shows.
