Tempur Sealy International, Temper-Sealy Receivables amend credit pact

By Robert S. Johnson

Princeton, N.J., April 11 – Tempur Sealy International Inc. and Tempur Sealy Receivables LLC entered into a second amendment to their credit agreement with Wells Fargo Bank NA, according to an 8-K filing with the Securities and Exchange Commission.

Tempur Sealy International and Tempur Sealy Receivables are subsidiaries of Tempur-Pedic North America LLC.

The amendment revises the maturity date of the credit facility to April 6, 2021.

The agreement provides for revolving loans to the maximum amount that varies over the course of the year based on seasonality and is subject to an overall limit of $120 million at an interest rate of one-month Libor plus 80 basis points.

Also, the agreement allows the company to make voluntary prepayments and commitment reductions without fees upon proper notice and subject to minimum dollar amounts.

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

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