Somnigroup International reduces interest expense amid Leggett & Platt acquisition
The company used $700 million in incremental liquidity to repay a portion of its term loan B.
Somnigroup International (SGI) reduced its annual interest expense by approximately $5 million.
The sleep-products manufacturer shifted its capital structure this quarter to lower borrowing costs and prepare for a major expansion of its portfolio.
The company achieved the interest savings following the amendment of its $2.9 billion senior secured credit facilities. As part of this restructuring, Somnigroup used $700 million in incremental liquidity to repay a portion of its term loan B.
These financial adjustments coincide with a significant strategic acquisition. Somnigroup entered into a definitive agreement on April 13, 2026, to acquire Leggett & Platt in an all-stock transaction valued at approximately $2.5 billion.
The deal is expected to close by year-end 2026.
Somnigroup declared a third quarter cash dividend of $0.17 a share on August 6, 2026.