Tempur Sealy International announced that it is launching a proposed senior secured Term Loan B facility in an aggregate principal amount of up to $1.6 billion. The Term Loan B will mature seven years after the date of closing.
Tempur Sealy intends to use the proceeds from the Term Loan B, together with cash available and proceeds from other debt, to fund the cash consideration for the previously announced acquisition of Mattress Firm Group Inc. Tempur Sealy intends to draw on the Term Loan B concurrent with the closing of the Mattress Firm acquisition.