Serta Simmons withdraws $1.31 billion term loan repricing proposal

By Sara Rosenberg

New York, Feb. 15 - Serta Simmons (AOT Bedding Super Holdings LLC) pulled the repricing of its $1.31 billion senior secured term loan B due Oct. 1, 2019, according to a market source.

The repricing was talked at Libor plus 300 basis points to 325 bps with a 1% Libor floor and a par offer price and had 101 soft call protection for six months.

Current pricing on the term loan B is Libor plus 375 bps with a 1.25% Libor floor.

Morgan Stanley Senior Funding Inc., Deutsche Bank Securities Inc., UBS Securities LLC, Goldman Sachs & Co. and Barclays were the joint lead arrangers and bookrunners on the deal.

Serta Simmons is a mattress manufacturer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.