Tempur Sealy will redeem remaining 5˝% notes due 2026 at 102.75 on June 15

Chicago, April 28 – Tempur Sealy International Inc. notified noteholders that it will redeem the remaining $600 million of 5˝% senior notes due 2026 on June 15, according to an 8-K filing with the Securities and Exchange Commission.

The company will redeem the notes at 102.75, plus any interest to the redemption date.

A portion of the proceeds from the company’s recent offering of $800 million of 4% notes due 2029 will be used to fund the redemption.

The redemption is conditioned upon the final approval of the company’s chief financial officer at least two days before the scheduled redemption, based on whether the redemption is still prudent and consistent with the company’s objectives.

Lexington, Ky.-based Tempur-Pedic North America manufactures mattresses and pillows.

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