Hasbro Inc. (NASDAQ:HAS) has raised $500 million of corporate debt through a sale of 10-year bonds, its first bond sale since 2019.

The toy giant behind staples such as Monopoly, Beyblade and Play-Doh and film franchises Transformers and G.I. Joe issued debt with yields of 1.6% above treasury bills on Wednesday, according to Bloomberg. Bank of America, Citigroup, JPMorgan and Bank of Nova Scotia managed the sale, a source told the outlet.

Hasbro previously issued $2.4 billion worth of bonds in November 2019 to finance a portion of its $4 billion acquisition of London-based entertainment company Entertainment One Ltd.

Since the acquisition, Hasbro has sold several business segments. Among them was the sale of EOne's film and TV divisions to Lions Gate Entertainment Corp. for $375 million and the assumption of Hasbro's production financing. In addition, Hasbro sold EOne's music rights platform eOne Music to Blackstone for $385 million in 2021, Bloomberg reports.

The offering was preceded by the company's recent first-quarter earnings beat. Hasbro earned 61 cents per share, exceeding analysts' estimates of 27 cents per share on an adjusted basis amid the company's long-standing turnaround. The company also reported first-quarter sales of $757.30 million, above the consensus analyst estimate of $738.61 million.

The company has encountered abnormally low consumer demand in the U.S. In February, the company reported a tumble in holiday-quarter sales amid a broader decrease in consumer discretionary spending. This follows an overall slowdown in the amount of credit card debt talked on by U.S. consumers. In response, the company laid off a significant part of its workforce.

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