Sealy To Redeem $35 Million Of Senior Notes

(Comment on this article at http://www.financialwire.net/2010/02/02/sealy-to-redeem-35-million-of-senior-notes/)

February 2, 2010 (FinancialWire) -- Sealy Corp. (NYSE: ZZ) said it plans to redeem 10%, or $35 million, of its $350 million of 10.875% senior secured notes due April 15, 2016.

Under the terms of the notes, the redemption price will equal 103.00% of the principal amount of the notes, plus accrued and unpaid interest to the redemption date. The redemption is anticipated to occur during the second quarter of fiscal 2010, upon formal notice to note holders.

North Carolina-based Sealy manufactures and markets a range of mattresses and foundations under the Sealy, Sealy Posturepedic, including SpringFree, PurEmbrace and TrueForm; Stearns & Foster, and Bassett brands. Sealy operates 25 plants in North America.

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