NORWALK, Conn.--(BUSINESS WIRE)--GE Capital, Corporate Finance today announced it is serving as administrative agent on a $75 million senior secured credit facility for JAKKS Pacific, Inc. (NASDAQ:JAKK), a leading designer and marketer of toys and consumer products. The financing will be used for working capital, capital expenditures and general corporate purposes.
JAKKS is a multi-brand company based in Malibu, CA that has been designing, developing, producing and marketing toys, leisure products and writing instruments for children and adults around the world since 1995.
“We value GE Capital’s deep understanding of our business,” said Stephen Berman, president and CEO of JAKKS. “This expertise enabled them to provide us with the financing availability and flexibility we need to run our business.”
“JAKKS has a distinctive business model that enables it to succeed in the highly competitive and seasonal toy industry,” said Bob McCarrick, chief commercial officer—lending at GE Capital, Corporate Finance. “We specialize in working closely with clients to support their business objectives and continue their development.”
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