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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Wells Fargo Provides $120MM Revolver to Tempur Sealy International
Wednesday, April 19, 2017
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Lenders/Participants
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Wells Fargo Bank [Lender]
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Structure
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Revolving Credit Facility
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Amount
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$120.000
Million
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Borrower(s)
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A wholly owned special purpose subsidiary of Tempur-Pedic North America, LLC
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Description
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On April 12, 2017, Tempur Sealy International, Inc. (the “Company”) and certain of its subsidiaries entered into a securitization transaction (the “Transaction”) with respect to certain indebtedness and other obligations owed to subsidiaries of the Company arising from the sale of goods or provision of services by these subsidiaries (the “Receivables”). In connection with the Transaction, the Company and Tempur Sealy Receivables, LLC (the “Borrower”) entered into a Credit and Security Agreement (the “Credit Agreement”), dated as of April 12, 2017, with Wells Fargo Bank, National Association, as lender (the “Lender”). The Borrower is a wholly owned special purpose subsidiary of Tempur-Pedic North America, LLC (“TPNA”). The Credit Agreement provides for revolving loans (the “Loans”) to be made from time to time by the Lender to the Borrower, in a maximum amount that varies over the course of the year based on seasonality subject to an overall limit of $120 million. The Loans will bear interest at a floating rate equal to a one month LIBOR index plus 80 basis points.
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Industry
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Manufacturing
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| Related Tags |
Wells Fargo Bank
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ABL Advisor
Deal Tables
2025
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