Corporate Social Responsibility | Business Wire | PR NewsWire | Marketwire | Realwire | ACN/JCN newswire | 247pressrelease | PRWeb

Toys “R” Us, Inc. Announces Offering by a Property Subsidiary of Senior Notes Due 2017

Posted : Mon, 09 Nov 2009 12:39:41 GMT
Author : Toys “R” Us, Inc.
Category : Press Release
News Alerts by Email ( click here )
News | Home
WAYNE, N.J. - (Business Wire) Toys “R” Us, Inc. announced today that one of its indirect wholly-owned subsidiaries, Giraffe Properties, LLC, which is an indirect wholly owned subsidiary of Toys-Delaware and will be renamed Toys “R” Us Property Company II, LLC (the “Issuer”), intends to offer, subject to market and other conditions, $650 million aggregate principal amount of senior secured notes due 2017. The Issuer intends to use the cash proceeds from the offering of the notes, together with cash on hand, to repay the Issuer’s existing $600 million senior secured real estate loan and security agreement and related mezzanine loans. In addition, in connection with the offering and the related transactions, MPO Properties, LLC, (MPO), an indirect wholly-owned subsidiary of Toys “R” Us, Inc., will repay its $200 million senior secured real estate loan and security agreement and related mezzanine loans. The notes will be secured by first priority security interests in all of the real estate properties of the Issuer. The notes are solely the obligation of the Issuer and are not guaranteed by Toys “R” Us, Inc. or Toys “R” Us - Delaware, Inc.

The notes will be offered only to qualified institutional buyers in reliance on the exemption from registration set forth in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. persons in reliance on the exemption from registration set forth in Regulation S under the Securities Act. The notes have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from the Securities Act. This release does not constitute an offer to sell or the solicitation of an offer to buy the notes.

Forward-Looking Statements

Except for historical information contained herein, the statements in this release are forward-looking. These statements are subject to risks, uncertainties, and other factors, including among others, competition in the retail industry, seasonality in Toys “R” Us, Inc.’s business, changes in consumer preferences and consumer spending patterns, product safety issues including product recalls, general economic conditions in the United States and internationally, the Issuer’s, and Toy “R” Us Inc.’s ability to implement their strategy, their respective substantial level of indebtedness and related debt-service obligations, restrictions imposed by covenants in the Issuer’s and Toys “R” Us Inc.’s respective debt agreements, availability of adequate financing, changes in laws that impact the business of the Issuer, and Toys “R” Us Inc., dependence on key vendors for Toys “R” Us, Inc.’s merchandise, domestic and international events affecting the delivery of toys and other products to Toys “R” Us, Inc.’s stores, and economic, political and other developments associated with Toys “R” Us, Inc.’s international operations. Risks associated with forward-looking statements are more fully described in Toys “R” Us, Inc.’s filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they were made, and neither the Issuer nor Toys “R” Us, Inc. undertake the obligation to update these statements in light of subsequent events or developments.

Toys"R"Us, Inc.
Kathleen Waugh, 973-617-5888


Copyright © 2008 Business Wire. All rights reserved.
Share/Save/Bookmark

Article : Toys “R” Us, Inc. Announces Offering by a Property Subsidiary of Senior Notes Due 2017
Print this article
Share this article

Stay Updated

News gadget on your Google homepage
Subscribe to a news feed in Google Reader



Related News

Tom’s Planner Announces Free Holiday Planning Template
Free online holiday template designed to alleviate stress and ensure easy and organized holiday preparation and planning. The new holiday planning template from Tom's Planner allows users to easily add their own customized content and plans, and also incorporates pre-populated holiday plannin...

Saks Incorporated Announces Amended and Restated Revolving Credit Facility
NEW YORK - Retailer Saks Incorporated (NYSE: SKS) (the “Company”) today announced that it has entered into an amended and restated revolving credit agreement. The amendment extends the maturity date of this facility to November 22, 2013. The maximum committed borrowing capacity o

ConsumerCrafts' Cyber Monday Holiday Shopping Sale Offers Significant Savings to Craft Enthusiasts
CLEVELAND, Nov. 24 /PRNewswire/ -- In preparation for the holiday shopping season, ConsumerCrafts announces their Cyber Monday sale occurring Monday, November 30th. Shoppers can enjoy 50 percent off all merchandise and free shipping within the contiguous United States. There is no minim...

Pacific Gas and Electric Company Seeks 20-Year License Extension for Diablo Canyon Power Plant
SAN LUIS OBISPO, Calif., Nov. 24 -- Citing a critical need in California for the long-term supply of clean, affordable and reliable electricity, Pacific Gas and Electric Company (PG&E) announced today that it will seek federal approval for license ...

Spirit Interim Chief Financial Officer Phil Anderson Speaking at Bank of America Merrill Lynch Credit Conference
WICHITA, Kan., Nov. 24 -- Spirit AeroSystems, Inc. (NYSE: SPR) Vice President and Interim Chief Financial Officer Phil Anderson will speak at the Bank of America Merrill Lynch Credit Conference at approximately 4:00 p.m. Eastern time on Wednesday, Dec. 2, 2009.

Principal Charity Classic Ranks #1 on Champions Tour
WEST DES MOINES, Iowa - The Champions Tour has selected The Principal Charity Classic as its “Best Event” in 2009. The announcement was recently made by Champions Tour President, Mike Stevens, at the Champions Tour Tournament Association annual awards dinner in San Antonio.

Ingram Micro Gears Up for 'Black Friday' and 'Cyber Monday,' Plans to Ship Over 3 Million Units Each Peak Holiday Week
SANTA ANA, Calif., Nov. 24 /PRNewswire/ -- The logistics division of Ingram Micro Inc. (NYSE: IM), the world's largest technology distributor, is gearing up to ship more than 3 million units per week across North America this holiday season. Wit...

Have your Say
Name
Email
Subject
Your Comment

Enter Verification code
 
  

 
Follow The Earth Times
Subscribe to RSS Follow Earth Times on TwitterNews by email
Share/Save/Bookmark
 
 



 
Subscribe to free Earthtimes
News Alerts by Email Click here
For RSS Feeds Click here
or Create your own RSS

Add to Google Toolbar
Breaking News
Press Releases

 


The Earth Times
News Category

© 2009 www.earthtimes.org, The Earth Times, All Rights Reserved | Privacy Policy
Earth Times accept no responsibility or liability either directly or indirectly for views or opinions expressed in articles or comments.