Tempur-Pedic International Inc
TPX:NYSE

| Last | Change / % Change | Dividend Yield | Volume | Avg Volume (10 day) |
| 42.47 | -0.81 -1.87% | 0.00% | 1,416,719 | 1.3M |
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Latest News Headlines for Tempur-Pedic International Inc
Tempur-Pedic Completes Repricing Of Senior Secured Term B Facility
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LEXINGTON, Ky., May 16, 2013 /PRNewswire/ -- Tempur-Pedic International Inc. (NYSE: TPX), the world's largest bedding provider, today announced that it completed the repricing and reduction of its existing $870.0 million senior secured term B facility. The repricing replaces the Company's existing senior secured term B facility with a new senior secured term B facility ("term B facility") with an outstanding principal balance of $867.8 million. Immediately following the repricing, the Company made a voluntary prepayment of $125.0 million, lowering the principal amount outstanding on the term B facility to $742.8 million. The voluntary prepayment was funded from a drawing made under the Company's revolving credit facility and from cash on hand obtained from the release of funds previously escrowed to provide for the conversion and discharge of certain notes under the 8% Sealy Notes indenture which were not tendered. In addition, the repricing reduces the current interest rates on the term B facility by 150 basis points. The repricing was effected through an amendment to the Company's existing credit agreement. The amendment reduces the applicable margin for LIBOR on the term B facility to 2.75% from 4.0% and reduces the LIBOR floor for the term B facility to 0.75% from 1.0%.
Company Background
Tempur-Pedic International Inc. (Tempur-Pedic International), incorporated in September 2002, is a manufacturer, marketer and distributor of premium mattresses and pillows, which it sells in approximately 80 countries under the TEMPUR and Tempur-Pedic brands. The Company operates in two segments: North America and International. The North American operating segment consists of two the United States manufacturing facilities and its North American distribution subsidiaries. The International segment consists of its manufacturing facility in Denmark, whose customers include all of its distribution subsidiaries and third party distributors outside the North American operating segment. The Company sells its premium mattresses and pillows through four distribution channels: retail, which includes furniture and bedding, non-spring and department stores, and healthcare. In March 2013, it announced the completion of acquisition of Sealy Corporation.
Bid/Size -- / -- | Ask/Size -- / -- |
Price Open 42.70 | Previous Close 43.28 |
Day High 43.10 | Day Low 42.07 |
52wk High/Date 51.022 / 3/27/2013 | 52wk Low/Date 20.70 / 6/26/2012 |
% off 52wk High -16.76% | % off 52wk Low 105.17% |
Beta (5 Yr) 1.9 | Market Capitalization 2.6B |
Shares Outstanding 60.3M | Volatility Avg 72.37 |
EPS(TTM) 1.00 | P/E Ratio 42.6x |
Dividend Announcement -- | Dividend Yield 0.00% |
Ex-Date -- | Date of Record -- |
Payable 0.00 - -- | Payable Date -- |
Last Trade as of 5/23/2013 3:04 PM ET | |
TPX Tempur-Pedic International Inc vs. Peers
| Peers | |
|---|---|
TPX Tempur-Pedic International Inc | 37.44% |
Ralph Lauren Corp | 25.44% |
Select Comfort Corp. | -19.76% |
TPX Tempur-Pedic International Inc | 0.00% |
Ralph Lauren Corp | 0.85% |
Select Comfort Corp. | -- |
TPX Tempur-Pedic International Inc | -1.87% |
Ralph Lauren Corp | -2.24% |
Select Comfort Corp. | -0.95% |


