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* Says to privately place convertible senior notes * To use proceeds to buy back senior notes due 2023 * Shares down 9 pct Nov 4 (Reuters) - Toy maker Jakks Pacific Inc said it will raise $85 million through a private placement of convertible senior notes, sending its shares down 9 percent. The company said the proceeds from the offering, along with cash on hand, will be used to buy back all or part of its notes due 2023. The notes will be convertible at any time only upon specified events, Jakks said in a statement. The notes, due 2014, will be offered to qualified institutional buyers and the buyer will get a 30-day over-allotment option of upto $15 million notes. Shares of the Malibu, California-based company were down 7 percent at $13.09 in late morning trade Wednesday on Nasdaq. They touched a low of $12.87 earlier in the session. (Reporting by Shobhana Chadha in Bangalore; Editing by Unnikrishnan Nair) Keywords: JAKKSPACIFIC/ (shobhana.chadha@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S.
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