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Bank of America, Wells Fargo Retail Finance Amend Toys"R"Us ABL Facility

March 27, 2014, 07:19 AM
Filed Under: Retail

On Mar.21, 2014, Toys“R”Us – Delaware, Inc., a direct wholly-owned subsidiary, and certain of its subsidiaries amended and restated the credit agreement for its senior secured revolving credit facility (“ABL Facility”) in order to extend the maturity date of the facility and amend certain other provisions.

An 8-K filing indicates the that Bank of America, is the administrative agent, Canadian agent and co-collateral agent and Wells Fargo Retail Finance, LLC, is co-collateral Agent.

The ABL Facility as amended will continue to provide for $1.85 billion of revolving commitments, subject to certain conditions. The ABL Facility has a final maturity date of March 21, 2019, with a springing maturity if the Toys“R”Us – Delaware term loans due fiscal 2016 and fiscal 2018, and the Toys“R”Us – Delaware secured notes due fiscal 2016 are not repaid 30 days prior to maturity. The ABL Facility as amended bears a tiered floating interest rate of London Interbank Offered Rate plus a margin of between 1.50% and 1.75% depending on usage.

Click here to view the 8-K filing with the Securities and Exchange Commission.

Toys“R”Us, Inc. is the world’s leading dedicated toy and juvenile products retailer, offering a differentiated shopping experience through its family of brands. Merchandise is sold in 872 Toys“R”Us and Babies“R”Us stores in the United States and Puerto Rico, and in more than 700 international stores and over 180 licensed stores in 35 foreign countries and jurisdictions. In addition, it exclusively operates the legendary FAO Schwarz brand and sells extraordinary toys in the brand’s flagship store on Fifth Avenue in New York City.

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