Toys 'R' Us Plans To Raise $1 Billion To Repay Other Debt

DOW JONES NEWSWIRES A Toys 'R' Us unit plans to raise about $1 billion through secured-term loans and the sale of senior secured notes to institutional investors in refinancing a similar amount of debt. It joins a host of companies looking to take advantage of the historically low interest-rate environment to cut interest on current borrowings. The toy-store chain was bought in 2005 by Vornado Realty Trust (VNO) and private-equity firms Bain Capital LLC and Kohlberg Kravis Roberts & Co. for $6.6 billion and has remained heavily in debt from the buyout. But as of May