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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Mattress Firm Holding Amends $865M Credit Facility in Sleepy’s Acquisition
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Lenders/Participants
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Barclays Bank [Joint Bookrunner]
J.P. Morgan Securities [Joint Bookrunner]
Merrill Lynch [Joint Bookrunner, Joint Lead Arranger]
Wells Fargo Securities [Joint Bookrunner, Joint Lead Arranger]
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Structure
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$200MM ABL Revolver; $665MM Term Loan
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Amount
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$865.000
Million
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Borrower(s)
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Mattress Firm Holding Corp.
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Description
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Company announced the completion of its acquisition of all of the outstanding equity interests in HMK Mattress Holdings LLC, the holding company of Sleepy's and related entities, for an aggregate purchase price of $780 million, subject to working capital and other customary adjustments. An amended $865 million senior secured credit facility with Barclays Bank PLC, J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Wells Fargo Securities LLC, as joint bookrunning managers and joint lead arrangers. The senior secured credit facility is comprised of (i) an amended asset based revolver of $200 million that includes a sublimit for letters of credit and swingline loans, subject to certain conditions and limits, and (ii) an incremental term loan borrowing of $665 million. The amended asset based revolver will mature on the fifth anniversary of closing, and the incremental term loan will mature along with the Company’s existing term B loan in October 2021.
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Industry
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Retail
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| Related Tags |
Barclays Bank, J.P. Morgan Securities, Merrill Lynch, Wells Fargo Securities
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ABL Advisor
Deal Tables
2025
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