Tempur Sealy in $850 Million Credit Facilities

Cleary Gottlieb represented Tempur Sealy International Inc. (Tempur Sealy) and certain of its subsidiaries in the refinancing of its existing term-loan and revolving credit facilities.

The amended $850 million credit facilities provide for a $425 million term-loan credit facility and a $425 million revolving credit facility. The amended facilities also provide for additional covenant flexibility. The refinancing closed on October 16, 2019.

Tempur Sealy is the world’s largest bedding provider and develops, manufactures, and markets mattresses, adjustable bases, pillows, and other sleep and relaxation products.