Toys R Us cancels $1.1 billion loan deal: report

By @ibtimes on

Privately held toy retailer Toys R Us has canceled a $1.1 billion loan deal that was intended to refinance its debt and reduce borrowing costs, Bloomberg reported on Monday.

Citing five people familiar with the matter, Bloomberg reported the cancellation but did not say why. Spokespeople for Toys R Us were not immediately available to comment.

The company has filed with regulators for an $800 million initial public offering; the relationship of the debt refinancing to the offering was not immediately clear.

Reuters Loan Pricing Corp reported last week that commitments had been due today on the deal.

(Reporting by Ben Berkowitz; Editing by Steve Orlofsky)

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