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Toys ‘R’ Us Extends Credit Line to $1.8 Billion

Toys “R” Us Inc., the retailer acquired by KKR & Co., Bain Capital Partners LLC and Vornado Realty Trust in 2005 for $7.5 billion, has extended the maturity and lowered the interest margin on its revolver, according to a statement released by Business Wire.

The company increased the borrowing capacity under its credit facility to $1.85 billion from $1.63 billion, and will initially pay an interest rate 2.75 percentage points more than the London interbank offered rate, according to the statement. Libor is the rate banks charge to lend to each other.