Tempur Sealy International successfully priced its previously announced senior secured term loan B facility in an aggregate principal amount of $1.6 billion. The term loan B will mature seven years after the date of closing of the term loan B, which is expected to occur in the next few weeks. The term loan B priced at SOFR + 250 bps with an OID of 99.5._x000D_
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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 required for the previously announced acquisition of Mattress Firm Group. The term loan B will close and fund into escrow with the proceeds to be released concurrently with the closing of the Mattress Firm acquisition.
Forward for Specialty Finance
