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Long-term Debt
6 Months Ended
Jun. 30, 2013
Long-term Debt
9. Long-term Debt

Long-term debt includes the following:

 

     June 30,
2013
    June 30,
2012
    December 31,
2012
 
     (In thousands)  

Medium-term notes due November 2013

   $ 50,000      $ 100,000      $ 50,000   

2008 Senior Notes

     —          350,000        350,000   

2010 Senior Notes due October 2020 and October 2040

     500,000        500,000        500,000   

2011 Senior Notes due November 2016 and November 2041

     600,000        600,000        600,000   

2013 Senior Notes due March 2018 and March 2023

     500,000        —          —     
  

 

 

   

 

 

   

 

 

 
     1,650,000        1,550,000        1,500,000   

Less: current portion

     (50,000     (400,000     (400,000
  

 

 

   

 

 

   

 

 

 

Total long-term debt

   $ 1,600,000      $ 1,150,000      $ 1,100,000   
  

 

 

   

 

 

   

 

 

 

In March 2013, Mattel issued $250.0 million aggregate principal amount of 1.70% senior unsecured notes (“1.70% Senior Notes”) due March 15, 2018 and $250.0 million aggregate principal amount of 3.15% senior unsecured notes (“3.15% Senior Notes”) due March 15, 2023 (collectively, “2013 Senior Notes”). Interest on the 2013 Senior Notes is payable semi-annually on March 15 and September 15 of each year, beginning September 15, 2013. Mattel may redeem all or part of the 1.70% Senior Notes at any time or from time to time at its option, at a redemption price equal to the greater of (i) 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest to but excluding the redemption date, and (ii) a “make-whole” amount based on the yield of a comparable US Treasury security plus 15 basis points. Mattel may redeem all or part of the 3.15% Senior Notes at any time or from time to time prior to December 15, 2022 (three months prior to the maturity date of the 3.15% Senior Notes) at its option, at a redemption price equal to the greater of (i) 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest to but excluding the redemption date, and (ii) a “make-whole” amount based on the yield of a comparable US Treasury security plus 20 basis points. Mattel may redeem all or part of the 3.15% Senior Notes at any time or from time to time on or after December 15, 2022 (three months prior to the maturity date for the 3.15% Senior Notes) at its option, at a redemption price equal to 100% of the principal amount of the notes to be redeemed plus accrued and unpaid interest to but excluding the redemption date.

During the first quarter of 2013, Mattel repaid $350.0 million aggregate principal amount of its 5.625% senior unsecured notes due March 15, 2013 (“2008 Senior Notes”) in connection with their scheduled maturity using proceeds from the issuance of the 2013 Senior Notes.