Tempur Sealy Announces Pricing Of $800 Million Senior Notes Offering
Tempur Sealy International has announced the pricing of its $800 million offering of 3.875% senior notes due 2031. The offering is aimed at qualified institutional buyers and is expected to close on September 24, 2021. Proceeds from the offering will be used to fully repay the outstanding balances under its Revolving Credit Facility and Accounts Receivable Securitization Facility, with the remainder allocated for general corporate purposes. The notes will be senior unsecured obligations of the Company, backed by the same entities guaranteeing its existing credit facilities.
- Successfully priced an $800 million offering of 3.875% senior notes due 2031.
- Proceeds will strengthen balance sheet by repaying existing debt under Revolving Credit Facility.
- None.
LEXINGTON, Ky., Sept. 21, 2021 /PRNewswire/ -- Tempur Sealy International, Inc. (NYSE: TPX, "Tempur Sealy" or "Company") today announced that it priced its offering of
The Notes will be senior unsecured obligations of the Company guaranteed by the same entities that guarantee its obligations under its existing credit facility. The terms of the Notes will be determined by negotiations between Tempur Sealy and the initial purchasers. The offering is expected to close on September 24, 2021, subject to satisfaction of customary closing conditions.
Tempur Sealy intends to use the net proceeds from this offering partly to repay in full the outstanding balances under its Revolving Credit Facility and Accounts Receivable Securitization Facility and to use the balance for general corporate purposes.
This announcement is not an offer to sell or a solicitation of an offer to buy any security. The Notes will not be or have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About the Company
Tempur Sealy is committed to improving the sleep of more people, every night, all around the world. As a global leader in the design, manufacture and distribution of bedding products, we know how crucial a good night of sleep is to overall health and wellness. Utilizing over a century of knowledge and industry-leading innovation, we deliver award-winning products that provide breakthrough sleep solutions to consumers in over 100 countries.
Our highly recognized brands include Tempur-Pedic®, Sealy® and Stearns & Foster® and our non-branded offerings include value-focused private label and OEM products. Our distinct brands allow for complementary merchandising strategies and are sold through third-party retailers, our Company-owned stores and e-commerce channels. This omni-channel strategy ensures our products are offered where ever and how ever customers want to shop.
Lastly, we accept our global responsibility to serve all stakeholders, our community and environment. We have and are implementing programs consistent with our responsibilities.
Investor Relations Contact
Aubrey Moore
Investor Relations
Tempur Sealy International, Inc.
800-805-3635
Investor.relations@tempursealy.com
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SOURCE Tempur Sealy International, Inc.
FAQ
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Are the senior notes offered by Tempur Sealy secured or unsecured?
