Toys “R” Us has outlined initial price guidance on $1.1 billion of term loans it is seeking to refinance, Bloomberg reports. The $700 million term loan, due September in 2016, was raised in August, while the new $400 million term loan is due in 7.5 years. Bank of America, JP Morgan Chase, Goldman Sachs, Wells Fargo, Credit Suisse, Citigroup and Deutsche Bank are arranging an amendment to re-price both the loans. The company may propose to pay an interest rate 3 percentage points to 3.25 percentage points more than the London interbank offered rate.
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