Tempur Sealy amends credit agreement to replace LIBOR with Term SOFR

SOMNIGROUP INTERNATIONAL INC.

Amendment No. 6 replaces LIBOR with Term SOFR plus 0.10% adjustment as base rate for USD loans.
Applicable interest rate also includes margin based on Consolidated Total Leverage Ratio.
Loans may be prepaid without premium or penalty, subject to customary breakage costs.
Effective May 19, 2023 after no objection from Majority Facility Lenders.
Other credit agreement terms, covenants, and guarantees remain unchanged and are ratified.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

SOMNIGROUP INTERNATIONAL INC. amended Amendment (effective 2023-05-19).

Action: amendment
Agreement: credit facility
Effective: 2023-05-19

Exact text from the filing

On May 19, 2023, Tempur Sealy International, Inc. (the "Company") entered into an Amendment (the "Amendment") to the Company's Amended and Restated Credit Agreement dated as of October 16, 2019 (as amended, supplemented or otherwise modified as of the effective date of the Amendment, including by the Amendment, the "Credit Agreement"), among several banks and other financial institutions party thereto and JPMorgan Chase Bank, N.A., as administrative agent.

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Source: SEC EDGAR

accession 0001206264-23-000150

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