Sealy launches creative $177M rights offering (Dealscape

Mattress retailer Sealy Corp. launched a rights offering for $177 million senior secured convertible notes due 2016 that its largest shareholder, Kohlberg Kravis Roberts & Co., will backstop.

KKR has pledged to exercise its rights equivalent to about $90 million and will cover all unsubscribed notes to allow it to increase its ownership stake.

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NOT A SUBSCRIBER? Sealy launches creative $177M rights offering Posted on May 29, 2009 10:31 AM Mattress retailer Sealy Corp. launched a rights offering for $177 million senior secured convertible notes due 2016 that its largest shareholder, Kohlberg Kravis Roberts & Co., will backstop. KKR has pledged to exercise its rights equivalent to about $90 million and will cover all unsubscribed notes to allow it to increase its ownership stake. This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools. To request a demo, or, if you are an existing user to The Deal Pipeline, log in to your account, please scroll down and click the button. Dig deeper, with Pipeline. 571 in-depth reports of M&A deals in the Retail sector 219 in-depth transaction records for Kohlberg Kravis Roberts 104 in-depth reports of Reorganization plans in the Retail sector 49 articles related to Sealy Corp. 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Skadden Arps Idearc Inc. Deutsche Bank Amusement parks Deb Shops Windstream Corp. Concho Resources Hanna Andersson Tween Brands Edward Bastian		EXISTING USERS Username Password Forget your password? Missing a product?

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