Tempur Sealy Sells $1.6 Billion Loan for Mattress Firm Purchase
- Deal priced at 99.5 cents, margin at wide end of price talk
- Federal Trade Commission is suing to block the acquisition
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A group of banks led by Wells Fargo & Co. sold a $1.6 billion leveraged loan Friday to help fund Tempur Sealy International Inc.’s proposed acquisition of Mattress Firm Group Inc. that the Federal Trade Commission is seeking to block.
The seven-year loan priced at 99.5 cents on the dollar with a margin 2.5 percentage points above the Secured Overnight Financing Rate, according to a person familiar with the matter who asked not to be identified as they’re not authorized to speak publicly. The margin for the deal, launched in late September, was set at the wide end of price talk.