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Published on 10/21/2005 in the Prospect News Bank Loan Daily.

Toys R Us seeks $1.5 billion real estate loan

By Sara Rosenberg

New York, Oct. 21 - Toys R Us Inc. is seeking a $1.5 billion three-year real estate facility (B2/B-), according to a market source.

Deutsche and Bank of America are the lead banks on the deal.

The real estate loan is priced with an interest rate of Libor plus 275 basis points, the source said.

The Wayne, N.J., specialty toy retailer's facility contains two one-year extension options for a 25 bps extension fee.

Proceeds will be used to repay the majority of a $1.9 billion bridge loan used in the leveraged buyout of Toys R Us by an investment group consisting of affiliates of Kohlberg Kravis Roberts & Co., Bain Capital Partners LLC and Vornado Realty Trust.


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