Wells Fargo Launches $1.6 Billion Loan for Tempur Sealy Deal
- Proceeds will be used to fund acquisition of Mattress Firm
- Federal Trade Commission has moved to block $4 billion deal
A Wells Fargo bank branch in New York.
Photographer: Angus Mordant/BloombergThis article is for subscribers only.
A group of banks led by Wells Fargo & Co. launched a $1.6 billion term loan B to help support Tempur Sealy International Inc.’s acquisition of Mattress Firm Group Inc., according to a person familiar with the matter, as the Federal Trade Commission is moving to block the deal.
A lender call will be held Monday, Sept. 23 at 2 p.m. New York time, the person said, asking not to be named because the information is private. Commitments are due Thursday, Oct. 3 at 5 p.m., and price talk has yet to be announced, they added.