Home / Knowledge / News / Textiles / Tempur-Pedic completes repricing of term B facility
Tempur-Pedic completes repricing of term B facility
May '13
Tempur-Pedic International Inc., the world's largest bedding provider, announced that it completed the repricing and reduction of its existing $870.0 million senior secured term B facility. The repricing replaces the Company's existing senior secured term B facility with a new senior secured term B facility ("term B facility") with an outstanding principal balance of $867.8 million.

Immediately following the repricing, the Company made a voluntary prepayment of $125.0 million, lowering the principal amount outstanding on the term B facility to $742.8 million.

The voluntary prepayment was funded from a drawing made under the Company's revolving credit facility and from cash on hand obtained from the release of funds previously escrowed to provide for the conversion and discharge of certain notes under the 8% Sealy Notes indenture which were not tendered. In addition, the repricing reduces the current interest rates on the term B facility by 150 basis points.

The repricing was effected through an amendment to the Company's existing credit agreement. The amendment reduces the applicable margin for LIBOR on the term B facility to 2.75% from 4.0% and reduces the LIBOR floor for the term B facility to 0.75% from 1.0%.

Dale Williams, Executive Vice President and Chief Financial Officer commented, "This repricing further improves the Company's capital structure and is expected to reduce our annual cash interest costs by more than $10 million. We are committed to reducing our debt and this repricing will provide the Company with additional cash flow flexibility to do so."

About the Company

Tempur-Pedic International Inc.is the world's largest bedding provider. Tempur-Pedic International develops, manufactures and markets mattresses, foundations, pillows and other products.  The Company's brand portfolio includes many of the most highly recognized brands in the industry.


Must ReadView All

(L-R) Mr Shao Bojin, Chairman of Jihua Group and Mr Rohit Aggarwal, President of Huntsman Textile

Textiles | On 28th Oct 2016

Huntsman gets into strategic partnership with Jihua Group

Huntsman Textile Effects, the leading provider of high quality dyes...

Marzoli FT6D roving frames in Sintex’s Unit 2. Coutresy: Marzoli

Textiles | On 28th Oct 2016

Marzoli roving frames erected at Sintex textile division

A total of 48 Marzoli roving frames were erected in units I, II and...

Courtesy: Polartec

Textiles | On 28th Oct 2016

Polartec innovates most breathable waterproof fabric

Polartec, the premium provider of innovative textile solutions, has...

Interviews View All

Angelina Francesca Cheang

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Amrit Sethia

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search