We advised the administrative agent, joint lead arrangers and joint bookrunners

Davis Polk advised the administrative agent and the joint lead arrangers and joint bookrunners in connection with a refinancing and maturity extension of the outstanding term loan A facility, a repayment, replacement and maturity extension of the revolving facility and a partial repayment of the outstanding term loan B facility of Somnigroup International Inc, in addition to upsizes of the term loan A facility and revolving credit facility, bringing the term loan A facility and the revolving credit facility to an aggregate principal amount of $1.2 million and $1.7 million, respectively. The proceeds of the facilities after the refinancing and repayments will be used for general corporate purposes. Structural changes were also made to the credit facility in anticipation of Somnigroup’s upcoming acquisition of Leggett & Platt.

Somnigroup International is the world’s largest bedding provider. Somnigroup develops, manufactures and markets mattresses, foundations, pillows and other products. The company’s brand portfolio includes many highly recognized brands in the industry, including Tempur, Tempur-Pedic, Sealy featuring Posturepedic Technology and Stearns & Foster.

The Davis Polk finance team included partner Ruben N. Henriquez and associate Maria Jelda Doria. All members of the Davis Polk team are based in the New York office.

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