Spin Master restructures, upsizes five-year credit facility via HSBC

By Tali Rackner

Norfolk, Va., Dec. 21 – Spin Master Corp. entered into an agreement to increase, amend and extend its credit agreement with administrative agent HSBC, according to a press release.

Under the agreement, the revolving credit facility and term credit facility were restructured into a single five-year revolving facility, and the total capital available was increased to $510 million from $280 million.

The facility now matures in December 2021.

The company plans to draw under the facility to fund growth opportunities, including potential acquisitions.

As of Sept. 30, Spin Master had $107.9 million available under the revolving and term credit facilities.

Spin Master is a Toronto-based children’s entertainment company.

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