JAKKS Pacific, Inc. [NASDAQ: JAKK] today announced that on June 5, 2023 it repaid in full its Term Loan from Benefit Street Partners after making a voluntary prepayment of $30.5 million using cash on hand. The Company estimates that prepayment of the term loan could save it approximately $1.2 million in cash expense for the balance of this fiscal year. The Company will accelerate approximately $0.7 million of amortizable non-cash deferred financing costs associated with the prepayment to the second quarter ending June 30, 2023. The Company continues to maintain its asset-based revolving credit line with JP Morgan Chase Bank. The excess borrowing availability was $30.2 million as of March 31, 2023.
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