Tempur-Pedic amends loan, raising domestic revolver by $130 million

By Sara Rosenberg

New York, June 29 - Tempur-Pedic International Inc. amended its credit facility, increasing the domestic revolver size by $130 million, resulting in a total deal size of $770 million, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Also, the amendment extended the maturity date to June 2016 and provides for a $250 million accordion feature for the domestic revolver.

Furthermore, pricing was increased to a range of Libor plus 150 basis points to 225 bps based on leverage.

The commitment fee ranges from 37.5 bps to 50 bps, also based on leverage.

Bank of America is the domestic administrative agent, and Nordea Bank is the foreign administrative agent.

The amendment was completed on June 28.

Tempur-Pedic is a Lexington, Ky.-based manufacturer, marketer and distributor of bedding products.

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