Price talk on Mattel Inc.'s (MAT) planned $500 million 10- and 30-year senior unsecured bond deal, expected to price late Thursday, is in the area of 200 basis points on the shorter-term tranche and 262.5 basis points on the long, according to a person familiar with the deal.

Bank of America Merrill Lynch and Royal Bank of Scotland are running the sale.

Proceeds are expected to be used for general corporate purposes, including repaying Mattel's outstanding 6.125% notes due June 15, 2011, and medium-term notes maturing in 2011 with a weighted average interest rate of 7.20%.

-By Katy Burne, Dow Jones Newswires; 212-416-3084; katy.burne@dowjones.com
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