Davis Polk advised the initial purchasers on a Rule 144A/Regulation S offering by Tempur Sealy International, Inc. of $450 million aggregate principal amount of its 5.625% senior notes due 2023.

The notes are guaranteed by certain of Tempur Sealy’s subsidiaries. The proceeds from the offering will be used to refinance a portion of the term loan debt outstanding under Tempur Sealy’s senior secured credit facilities and pay fees and expenses related thereto.   

Headquartered in Lexington, Kentucky, Tempur Sealy is the world’s largest bedding provider and develops, manufactures, markets and distributes bedding products, which are sold globally in approximately 100 countries. Tempur Sealy’s brand portfolio includes many of the most highly recognized brands in the industry, including Tempur, Tempur-Pedic, Sealy, Sealy Posturpedic, Optimum and Stearns & Foster.   

The Davis Polk capital markets team included partner Michael Kaplan and associates Drew Glover, Meghan Maloney and Debora A. Ayoub. Partner Rachel D. Kleinberg and associate Aaron M. Lee provided tax advice. The Davis Polk finance team included partners Meyer C. Dworkin and James A. Florack and associates Samantha Hait, Scott M. Herrig and William P. Morrison. Members of the Davis Polk team are based in the New York, São Paulo and Northern California offices.   

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