Somnigroup amends and extends $2.9 billion senior secured credit facilities

Somnigroup refinanced its USD 2.9 billion senior secured credit facilities via an amendment, covering a USD 1.7 billion revolver and a USD 1.2 billion term loan A.

• The deal added USD 700 million of liquidity, used to repay part of the term loan B.
• The transaction is expected to cut annual interest expense by about USD 5 million.
• The amendment extends maturities while lowering cost of capital.