Toys ‘R’ Us Winds Down U.S. Business, Will Liquidate 735 Stores

Toys “R” Us filed a motion seeking bankruptcy court approval to begin the process of conducting an orderly wind-down of its U.S. business and liquidation of inventory in all 735 of the company’s U.S. stores.

Amazon Preparing Foray Into Banking

The Wall Street Journal reported that Amazon is speaking with big banks, including JPMorgan, about developing a checking-account-like product for its customers.

JPMorgan Agents $500MM ABL Facility for Ascena

Ascena Retail Group amended its credit facility with JPMorgan as administrative agent.

BofA Refinances $1.88B Sabre Term Loan

Sabre refinanced its term loan B credit facility, with Bank of America acting as administrative agent for the transaction.

JPMorgan Agents GNC Nutrition Refi

GNC Nutrition Centers extended the maturity date of its term loans, cancelled its existing revolving credit facility and entered into a new $100 million ABL revolver. A portion of the extended term loans were exchanged for ABL FILO term loans which, together with certain other newly funded ABL FILO term loans, equal $275 million in aggregate principal amount.

Remington Creditors Looking to Sell After Bankruptcy

Bloomberg reported that the Remington’s creditors are looking for a quick sale after the beleaguered gun company emerges from Chapter 11.

JPMorgan, BofAML, Citi Lead Blackstone Financing for Thomson Reuters Buy

Reuters reported that JPMorgan, Bank of America Merrill Lynch and Citigroup are leading a syndicate of more than 20 banks that have been invited to underwrite Blackstone’s acquisition of a majority stake in Thompson Reuters’ Financial and Risk unit.

JPMorgan, Others Arrange Kraton Term Loan Amendment

Kraton contracted with JPMorgan, Deutsche Bank and Credit Suisse as joint lead arrangers to amend its existing senior secured facility.

JPMorgan Agents $2.9B Avis Budget Group Facility Extension

Avis Budget Group extended the term of its $1.8 billion senior revolving credit facility for an additional two years to 2023. The company also extended the maturity of its $1.1 billion term loan for an additional three years to 2025, with no change in interest rate charged.

BofA Supports Remington Restructuring

Remington Outdoor reached a restructuring support agreement with creditors holding a majority of the FGI Operating Company term loans due in 2019. Bank of America, as administrative agent, reached a forbearance agreement with the company for the term B loans.