Deutsche Bank, Bank of America to be involved in Toys 'R' Us LBO financing

By Sara Rosenberg

New York, March 21 - Deutsche Bank and Bank of America will be involved in the financing package for Toys 'R' Us Inc.'s leveraged buyout, a market source told Prospect News.

No other details on the financing package, including whether other banks will be involved, are available yet, the source added.

On Thursday, Toys 'R' Us announced that it would be acquired by an investment group consisting of affiliates of Kohlberg Kravis Roberts & Co., Bain Capital Partners LLC and Vornado Realty Trust for $26.75 per share, representing a transaction value of $6.6 billion plus the assumption of debt. Each of the investors will own equal stakes in the company upon completion of the transaction.

Completion of the LBO is subject to regulatory review and approval by Toys 'R' Us shareholders and is expected to occur by July.

Toys 'R' Us is a Wayne, N.J.-based specialty toy retailer.

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