by David Perry // Executive Editor, Furniture Today • June 9, 2020
Serta Simmons Bedding enters into agreement to recapitalize the company
ATLANTA – Serta Simmons Bedding has entered into a transaction support agreement with a majority of its first lien
and second lien term loan holders to recapitalize the company.
The transaction is expected to reduce net debt by approximately $400 million and further provides for $200 million
in new capital to increase the company’s financial strength and support the acceleration of SSB’s business
transformation plan, officials said.
“The agreement with our lenders announced today is further validation of our business and transformation strategy
as well as our leadership team,” said SSB Chairman and CEO David Swift.
https://www.furnituretoday.com/bedding-manufacturers/serta-simmons-bedding-enters-into-agreement-to-recapitalize-the-company/
by David Perry // Executive Editor, Furniture Today • June 9,...
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