Sealy Announces $100 Million Debt Offering

Apr 02, 2001, 01:00 ET from Sealy Corporation

    HIGH POINT, N.C., April 2 /PRNewswire/ -- Sealy Corporation, the world's
 largest manufacturer of bedding products, today announced it is in the process
 of privately placing $100 million in senior subordinated notes.  The 9.875
 percent notes are due December 15, 2007.
     Net proceeds from the offering will be used to repay existing bank debt,
 allowing Sealy to maintain the flexibility to pursue its long-term growth
 strategy.  Proceeds also may be used for other general corporate purposes.
     The offering of the Notes will not be nor has it been registered under the
 Securities Act of 1933 and may not be offered or sold in the United States
 absent registration or an application exemption from registration.
     Sealy hopes to complete the offering by April 9, 2001.
     Sealy Corporation is the largest manufacturer of bedding in the world.
 Through its subsidiaries, Sealy has manufacturing operations in the United
 States, Canada, Puerto Rico, Argentina, Brazil and Mexico, and has licensees
 and distributors serving markets around the globe.  The Company recently
 signed an agreement to acquire Sapsa Bedding S.A., which has manufacturing
 facilities in France and Italy.  The Company produces and sells a complete
 line of mattresses and foundations, including those marketed under such
 leading brand names as Sealy(R), Sealy Posturepedic(R), Stearns & Foster(R),
 and Bassett(R).
 
 

SOURCE Sealy Corporation
    HIGH POINT, N.C., April 2 /PRNewswire/ -- Sealy Corporation, the world's
 largest manufacturer of bedding products, today announced it is in the process
 of privately placing $100 million in senior subordinated notes.  The 9.875
 percent notes are due December 15, 2007.
     Net proceeds from the offering will be used to repay existing bank debt,
 allowing Sealy to maintain the flexibility to pursue its long-term growth
 strategy.  Proceeds also may be used for other general corporate purposes.
     The offering of the Notes will not be nor has it been registered under the
 Securities Act of 1933 and may not be offered or sold in the United States
 absent registration or an application exemption from registration.
     Sealy hopes to complete the offering by April 9, 2001.
     Sealy Corporation is the largest manufacturer of bedding in the world.
 Through its subsidiaries, Sealy has manufacturing operations in the United
 States, Canada, Puerto Rico, Argentina, Brazil and Mexico, and has licensees
 and distributors serving markets around the globe.  The Company recently
 signed an agreement to acquire Sapsa Bedding S.A., which has manufacturing
 facilities in France and Italy.  The Company produces and sells a complete
 line of mattresses and foundations, including those marketed under such
 leading brand names as Sealy(R), Sealy Posturepedic(R), Stearns & Foster(R),
 and Bassett(R).
 
 SOURCE  Sealy Corporation