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GE Capital and Lehman Brothers launched syndication last week of a $270 million recapitalization credit for subsidiaries of mattress and pillow manufacturer Tempur World Holdings. The credit includes a $20 million, five-year revolver; a $30 million five-year "A" loan and a $135 million, six-year "B" piece. Lexington, Ky.-based Tempur is also doing a $150 million senior subordinated notes deal in conjunction with the recapitalization. Price talk on the "B" loan is in the LIBOR plus 31/2% range, according to a banker familiar with the deal. The facility also includes a five-year, $20 million revolver and a $65 million "B" loan for European borrowers. A GE official declined to comment and Lehman bankers did not return calls.
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BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.
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BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.
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BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.
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BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.
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BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.
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BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.
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BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.
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BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.