Mattress Firm $210 million credit facility structure, price talk emerge with launch

By Sara Rosenberg

New York, Jan. 19 - Mattress Firm credit facility details surfaced on Friday as the deal was launched with a bank meeting in the morning, including that the total transaction size is $210 million, according to a market source.

The facility is comprised of a $185 million seven-year term loan B and a $25 million six-year revolver, with both tranches talked at Libor plus 275 basis points, the source said.

UBS is the lead bank on the deal.

Proceeds from the credit facility, along with $120 million of subordinated debt and equity, will be used to fund J.W. Childs Associates LP's leveraged buyout of the company from Sun Capital Partners.

Mattress Firm is a Houston-based specialty bedding retailer.

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