WAYNE, N.J. — Toys R Us Inc. said Friday that one of its subsidiaries has completed an offering of $950 million in senior unsecured notes due 2017.

The privately held toy retailer said that Toys R Us Property Co. I LLC used the offering's approximately $925 million in proceeds along with available cash, cash from its parent company and proceeds from the transfer of some properties to Toys R Us Delaware Inc. to repay an existing senior unsecured credit facility.

Toys R US Delaware also extended the maturity of its senior secured credit agreement to May 21, 2012 from July 21, 2010.