FORBEARANCE AGREEMENT TO INDENTUREForbearance Agreement to Indenture • February 5th, 2009 • Simmons Co • Wood household furniture, (no upholstered) • New York
This FORBEARANCE AGREEMENT TO INDENTURE (this “Agreement”) is entered into as of February 4, 2009, by and among Simmons Bedding Company, a Delaware corporation (the “Company”), the Guarantors (as defined in the Indenture (as defined below)), and the Holders (as defined in the Indenture) party hereto. Capitalized terms used but not otherwise defined herein shall have the respective meanings ascribed to such terms in the Indenture.
Simmons Bedding Company Obtains Approval of Forbearance Agreement From The Note Holders’ Committee Company’s Restructuring Efforts ProgressSimmons Co • February 5th, 2009 • Wood household furniture, (no upholstered)
ATLANTA, February 5, 2009 – Simmons Bedding Company (“Simmons Bedding”), a subsidiary of Simmons Company (“Simmons” or the “Company”) and a leading manufacturer of premium-branded bedding products, today announced that the ad hoc committee of holders of its $200 million 7.785% senior subordinated notes (the “Notes”), which represents 60% of the Notes, has approved a forbearance agreement with the Company through March 31, 2009. The committee is pursuing approval from additional Note holders to make the forbearance agreement effective.
