---
schema_version: "secwatch.filing_event.v1"
accession: "0001206264-23-000196"
form_type: "8-K"
ticker: "SGI"
cik: "0001206264"
company_name: "SOMNIGROUP INTERNATIONAL INC."
filed_at: "2023-10-11T23:59:59+00:00"
generated_at: "2026-06-10T01:30:13.243497+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Tempur Sealy closes $1.65B refinancing; extends maturities to 2028

## Summary
- New $1.15B revolver and $500M term loan, maturity October 10, 2028.
- Proceeds refinance existing credit facilities; revolver also for general corporate purposes.
- Incremental facility up to $850M plus additional amounts subject to secured leverage test.
- Financial covenants: interest coverage ≥3.0x, total leverage ≤5.0x, secured leverage ≤3.5x.
- CEO says extended maturities, improved flexibility, maintained cost of funds; oversubscribed.

## SEC filing metadata
- accession: 0001206264-23-000196
- form_type: 8-K
- ticker: SGI
- cik: 0001206264
- company_name: SOMNIGROUP INTERNATIONAL INC.
- filed_at: 2023-10-11T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1206264/000120626423000196/0001206264-23-000196-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1206264/000120626423000196/tpx-20231010.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001206264-23-000196
- JSON: https://secwatch.observer/filing/0001206264-23-000196.json
- Plain text: https://secwatch.observer/filing/0001206264-23-000196.txt

## Key facts
- Material Agreements
  SOMNIGROUP INTERNATIONAL INC. entered into Credit Agreement with Bank of America, N.A., as administrative agent, and the several banks and other financial institutions party thereto valued at $1.15 billion revolving credit facility, a $500 million term loan facility (effective 2023-10-10).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A., as administrative agent, and the several banks and other financial institutions party thereto
  - Value: $1.15 billion revolving credit facility, a $500 million term loan facility
  - Effective: 2023-10-10
  source text: On October 10, 2023, Tempur Sealy International, Inc. (the "Company"), Tempur-Pedic Management, LLC (the "Additional Borrower") and certain wholly-owned subsidiaries of the Company (the "Subsidiary Guarantors") entered into a senior secured credit agreement (the "Credit Agreement") with the several banks and other financial institutions party thereto and Bank of America, N.A., as administrative agent (the "Agent").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1206264/000120626423000196/0001206264-23-000196-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.