UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT PURSUANT
TO
SECTION 13 OR 15(D) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of
report (Date of earliest event reported) August 6,
2007
TEMPUR-PEDIC
INTERNATIONAL INC.
(Exact
name of registrant as specified in its charter)
|
Delaware
|
001-31922
|
33-1022198
|
|
(State
or other jurisdiction of incorporation)
|
(Commission
File Number)
|
(I.R.S.
Employer Identification No.)
|
1713
Jaggie Fox Way
Lexington,
Kentucky 40511
(Address
of principal executive offices) (Zip Code)
(800)
878-8889
(Registrant’s
telephone number, including area code)
N/A
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation
of
the registrant under any of the following provisions (see General
Instruction A.2. below):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
1.01 Entry into a Material Definitive
Agreement.
On
August 6, 2007, Tempur-Pedic
International Inc. (the “Company”) exercised its option under its Credit
Agreement dated as of October 18, 2005, as amended (the “Credit Agreement”),
with Bank of America, N.A., Nordea Bank Danmark A/S, Fifth Third Bank, SunTrust
Bank, JPMorgan Chase Bank, N.A., Wells Fargo Bank, N.A., Regions Bank, and
National City Bank to increase the
domestic
revolving credit facility by an additional
$100
million. As a result, the maximum amount permitted to be
borrowed under the domestic revolving credit facility is $590 million, and
the
total commitment under the Credit Agreement is $640 million. The
exercise of this option does not amend any other term of the Credit
Agreement.
The
Company currently expects that, if
it borrows under the increased revolver, the funds would be used for general
corporate purposes, which could include funding share repurchases. As
of August 3, 2007, the Company had repurchased approximately 3.4 million shares
of common stock, under the Company’s $200 million share repurchase authorization
announced on July 19, 2007, for a total aggregate purchase price of
approximately $108 million.
Item
9.01 Financial Statements and Exhibits
(d)
Exhibits
None.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
| Tempur-Pedic International Inc. | |||
|
Date: August
6, 2007
|
By:
|
/s/ H. THOMAS BRYANT | |
| Name: H. Thomas Bryant | |||
| Title: Chief Executive Officer and President | |||