Funko extends credit facility by one year, reduces margin by 75 bps

By Wendy Van Sickle

Columbus, Ohio, Sept. 27 – Funko, Inc. announced an amendment to the credit agreement of some of its subsidiaries that will reduce the interest margin by 75 basis points.

The amendment also extends the maturity of the credit facility by about a year, according to a news release on Friday.

“The amendment will meaningfully reduce our cost of borrowing,” Jennifer Fall Jung, chief financial officer of Funko, said in the release.

“We saw an opportunity to amend our credit facility due to the combined factors of a favorable debt market and the company’s strong financial performance over this past year.”

Funko is a Lynnwood, Wash.-based company that manufactures licensed pop culture toys.

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