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Mattress Firm to issue senior secured debt for Sleep Train purchase
By Sara Rosenberg
New York, Sept. 4 – Mattress Firm Holding Corp. plans to issue senior secured debt to help fund the acquisition of the Sleep Train Inc., according to a news release.
The total purchase price for Sleep Train is $425 million, subject to working capital and other customary adjustments.
Closing is expected in the fourth fiscal quarter of 2014, subject to expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other regulatory approvals, and customary conditions.
Barclays acted as exclusive financial adviser to Mattress Firm.
Mattress Firm is a Houston-based specialty bedding company. Sleep Train is a Rocklin, Calif.-based bedding specialty retailer.
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