Hasbro, Inc. priced a $400 million public offering of 4.650% notes due 2031 on March 5, 2026. The notes will accrue interest beginning March 12, 2026, with semi‑annual coupon payments scheduled for September 12, 2026. The offering is expected to close on or about March 12, 2026, and the net proceeds are projected to be $397 million.
The company plans to use the proceeds for general corporate purposes, including the redemption of its 3.55% notes due 2026. By refinancing that maturity, Hasbro aims to streamline its debt profile and reduce interest expense while preserving liquidity for future growth initiatives.
This financing is part of Hasbro’s broader “Playing to Win” strategy, which emphasizes high‑margin digital gaming and licensing. The proceeds will support expansion in the Wizards of the Coast and Digital Gaming segment, a key growth engine that has driven a 45% revenue surge in 2025 and underpins the company’s shift toward asset‑light, IP‑driven businesses.
As of the end of 2025, Hasbro’s long‑term debt stood at $3.28 billion. Adding the new notes brings the total to approximately $3.68 billion, but the simultaneous redemption of the 2026 notes offsets the increase, helping to maintain a manageable debt‑to‑EBITDA ratio and extending the maturity profile.
The notes come after a strong Q4 2025 earnings report in which Hasbro beat consensus earnings by $0.56 per share and revenue by $0.19 billion, largely driven by the Wizards of the Coast segment. The financing signals confidence in continued execution of the company’s digital transformation and its ability to fund future growth while managing debt responsibly.
Overall, the $400 million note issuance provides Hasbro with capital flexibility, supports its strategic pivot toward digital gaming and licensing, and strengthens its balance sheet by refinancing an upcoming debt maturity.
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