We advised the administrative agent, joint arrangers and joint bookrunners on the transaction

Davis Polk advised the administrative agent, joint lead arrangers and joint bookrunners in connection with $1.65 billion in senior secured credit facilities provided to Tempur Sealy International, Inc. and certain of its subsidiaries to refinance certain of its existing indebtedness, for payment of certain fees and expenses, to finance working capital needs and for other general corporate purposes. The financing consists of a $1.15 billion revolving credit facility and a $500 million term loan facility.

Tempur Sealy International is the world’s largest bedding provider. Tempur Sealy develops, manufactures and markets mattresses, adjustable bases, pillows and other sleep and relaxation products. Tempur Sealy’s brand portfolio includes many highly recognized brands in the industry, including Tempur, Tempur-Pedic, Cocoon by Sealy, Sealy and Stearns & Foster.

The Davis Polk finance team included partner Meyer C. Dworkin, counsel Ruben N. Henriquez and associates David Waldman and Jacob Goldberger. Counsel Susan D. Kennedy provided real estate advice. Counsel Will Schisa provided sanctions advice. Partner Michael Farber provided tax advice. Partner Pritesh P. Shah provided intellectual property advice. Members of the Davis Polk team are based in the New York and Washington DC offices.