Beds and mattress giant Tempur Sealy International has successfully closed out a $450m (£295m) senior notes offering.

The Kentucky headquartered manufacturing group plans to use the net proceeds from the offering to repay a portion of its long term secured debt.

The notes will pay interest twice-annually at a rate of 5.6 per cent, and are due to mature in October 2023.

Tempur Sealy International said the notes were sold in a private offering only to qualified institutional buyers and to unspecified non-US individuals.