Tempur Sealy Announces Close of $1.6 Billion Term Loan B Facility
Tempur Sealy International, Inc. (TPX)
Last tempur sealy international, inc. earnings: 4/30 06:37 am
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Source: PR Newswire
– Expects to use Term Loan B proceeds to fund the expected acquisition of Mattress Firm– Aligns availability period of Delayed Draw Term A Loan commitmentsLEXINGTON, Ky., Oct. 25, 2024 /PRNewswire/ -- Tempur Sealy International, Inc. (NYSE: TPX, "Company" or "Tempur Sealy") today announced that it has successfully closed on a senior secured Term Loan B facility in an aggregate principal amount of $1.6 billion (the "Term Loan B"). The Term Loan B will mature seven years after the date of closing. The Company also amended its 2023 Credit Agreement to reflect this new Term Loan B and extend the availability period of $605 million of the Company's Delayed Draw Term A commitments that closed earlier this year.Tempur Sealy intends to use the proceeds from the Term Loan B, together with cash available and proceeds from other debt, solely to fund the cash consideration for the previously announced acquisition of Mattress Firm Group Inc. ("Mattress Firm"). The proceeds from the Term Loan B w
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