U.S. private equity firms Kohlberg Kravis Roberts & Co and Bain Capital are preparing for initial public offerings of Toys R Us and NXP SemiConductors , the Wall Street Journal said, citing people familiar with the deals.

Dutch semiconductor company NXP, which was spun off from Philips Electronics

in 2006, is planning to raise more than $1 billion through an IPO, the Journal said, citing people familiar with the situation.

KKR and Bain could partially cash out their stakes and return money to investors, or use the proceeds to pay down the sizable debt used to finance the takeovers, the Journal said.

The IPOs are expected to be priced in the coming months provided stock markets remain stable, the paper said.

Private equity firms have been taking advantage of improved stock market conditions to take investments public after a long drought.

The two firms have also planned an initial public offering of hospital chain HCA Inc that could be worth up to $4.5 billion, CNBC reported on Thursday.

Nashville, Tennessee-based HCA could file as soon as mid-May and debut in mid-July, CNBC said.

The Journal also said discount retailer Dollar General Corp is expected to announce a new stock offering as early as next week, citing people familiar with the situation.

KKR and Bain were not reachable for a comment by Reuters outside regular U.S. business hours.

(Reporting by Anuradha Ramanathan in Bangalore)

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