Toys 'R' Us to redeem $500 million 7 5/8% notes with new term B-2 loan

By Toni Weeks

San Diego, May 26 - Toys 'R' Us, Inc. intends to use funds from its new term B-2 loans along with other available funds to fully redeem its $500 million of 7 5/8% senior notes due 2011, according to an 8-K filing with the Securities and Exchange Commission.

The company amended its credit agreement with administrative agent Bank of America, NA on May 25 to add a new tranche of term B-2 loans with a principal amount of $400 million, resulting in a total facility size of $1.1 billion.

Toys 'R' Us is a Wayne, N.J.-based toy retailer.

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