Realogy used the net proceeds from the new Term Loan B and the new Term Loan A-1, borrowings of $225 million under its existing revolving credit facility, and cash on hand, to repay the existing Term Loan B , the effect of which is to reduce Term Loan B borrowings by approximately $765 million to $1.1 billion.
"We are pleased to have accomplished our goal of reducing our Term Loan B borrowings at favorable market terms while at the same time smoothing out our debt maturity profile over the next seven years," said Anthony Hull, Realogy's executive vice president, chief financial officer and treasurer.
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 13,600 offices with more than 257,200 independent sales associates conducting business in 110 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.
Logo - http://photos.prnewswire.com/prnh/20140110/NY44427LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/realogy-completes-refinancing-of-term-loan-b-and-extends-maturity-date-by-two-years-300301539.html
SOURCE Realogy Holdings Corp.