Toys 'R' Us to sell $950 million eight-year notes during June 29 week

By Paul A. Harris

St. Louis, June 25 - TRU 2005 Re Holding Co. I, LLC, a subsidiary of Toys 'R' Us, Inc., plans to price a $950 million offering of eight-year senior notes (expected ratings B3/B+) in the middle part of the June 29 week, according to an informed source.

Banc of America Securities LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. and Wachovia Securities LLC are joint bookrunners for the Rule 144A with registration rights offering.

Citigroup Global Markets Inc. and Morgan Stanley & Co. Inc. are co-managers.

The notes come with four years of call protection.

Proceeds will be used to repay bank debt.

The issuing entity will be renamed Toys 'R' Us Property Co. I, LLC.

Toys 'R' Us is a specialty retailer of toys and juvenile products based in Wayne, N.J.

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