Sealy Mattress to redeem $235 million 10 7/8% notes in full at 105.438

By Marisa Wong

Madison, Wis., March 22 - Sealy Mattress Co. issued a notice of redemption to holders of its 10 7/8% senior secured notes due 2016.

The company said it will redeem all $235 million of the outstanding notes on April 15 at 105.438 plus accrued interest to the redemption date. The total amount of interest payable is $12,778,125.

The redemption was conditioned on the completion of Tempur-Pedic International Inc.'s acquisition of Sealy Mattress' parent Sealy Corp. The merger was completed on March 18, as separately announced.

Tempur-Pedic and Sealy are mattress manufacturers based in Lexington, Ky., and Trinity, N.C., respectively.

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