The Firm represented Toys “R” Us – Delaware, Inc. (“Toys-Delaware”), a wholly-owned subsidiary of Toys “R” Us, Inc. (“TRU”), in connection with its incurrence of a new class of term loans in an aggregate principal amount of approximately $1.03 billion under its term loan credit facility and a new class of loans in an aggregate principal amount of $280 million under its asset-based revolving credit facility. Toys-Delaware used the proceeds of the new loans and other sources available to it to (i) refinance all of its term loans due 2016 and a portion of its term loans due 2018 and (ii) redeem all of its 7⅜% senior secured notes due 2016.
TRU is the world’s leading dedicated toy and baby products retailer. TRU is owned by an investment group consisting of entities advised by or affiliated with Bain Capital Partners LLC, Kohlberg Kravis Roberts & Co., L.P., Vornado Realty Trust and GB Holdings I, LLC, an affiliate of Gordon Brothers.
The Simpson Thacher team for the transaction included James Cross, Richard Kim, Taylor Smith, Maria Carolina Gonzalez Diaz and Josh Bergman (Credit); Michael Nathan, Jonathan Ozner and Caroline Gross (Capital Markets); Jon Pall (Collateral); Lori Lesser, Samantha Himelman and Michelle Morad (Intellectual Property); Mardi Merjian (Real Estate); Jeanne Annarumma and Jeannine McSweeney (Executive Compensation and Employee Benefits); and Marcy Geller and Jodi Sackel (Tax).