MADISON, N.J., Jan. 23, 2017 /PRNewswire/ -- Realogy
Holdings Corp. (NYSE: RLGY) today announced that it has completed
the repricing of its existing approximately $1.1 billion Term Loan B under its Senior Secured
Credit Facility through a refinancing of the existing term loan
with a new term loan. In conjunction, the Company also increased
the borrowing capacity of its Revolving Credit Facility to
$1.050 billion, from the existing
$815 million capacity.
The interest rate under the new Term Loan B is 75 basis points
lower than the rate under the previous term loan, and Realogy
expects to reduce its annual cash interest expense to approximately
$165 million.
The interest rate with respect to the new term loan is adjusted
LIBOR plus a 2.25% margin (with a floor of 0.75%) or ABR plus 1.25%
(with an ABR floor of 1.75%), representing a 75 basis point
reduction in the margin with the floor unchanged. The maturity date
for the new term loan remains July 20,
2022, and all other material provisions under the senior
secured credit agreement remain unchanged.
About Realogy Holdings Corp.
Realogy Holdings Corp.
(NYSE: RLGY) is a global leader in residential real estate
franchising and brokerage with many of the best-known industry
brands including Better Homes and Gardens® Real Estate, CENTURY
21®, Coldwell Banker®, Coldwell Banker Commercial®, The Corcoran
Group®, ERA®, Sotheby's International Realty® and
ZipRealty®. Collectively, Realogy's franchise system members
operate approximately 13,650 offices with more than 268,000
independent sales associates conducting business in 111 countries
and territories around the world. NRT LLC, Realogy's
company-owned real estate brokerage, is the largest residential
brokerage company in the United
States, operates under several of Realogy's brands and also
provides related residential real estate services. Realogy also
owns Cartus, a prominent worldwide provider of relocation services
to corporate and affinity clients, Title Resource Group (TRG), a
leading provider of title, settlement and underwriting services and
ZapLabsSM, its innovation and technology development
subsidiary. Realogy is headquartered in Madison, New Jersey.
Investor Contacts:
Alicia
Swift
(973) 407-4669
alicia.swift@realogy.com
Jennifer Halchak
(973) 407-7487
jennifer.halchak@realogy.com
Media Contact:
Mark
Panus
(973) 407-7215
mark.panus@realogy.com
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SOURCE Realogy Holdings Corp.