Realogy parent Domus to repay some debt, redeem 11% convertible notes using IPO proceeds

By Susanna Moon

Chicago, June 8 - Domus Holdings Corp., the parent company of Realogy Corp., plans to repay some debt and redeem any outstanding 11% convertible notes due April 15, 2018 at 90 with proceeds from the company's $1 billion initial public offering of stock.

Some noteholders, including Apollo and Paulson, have indicated that they intend to convert all of their convertibles into class A shares, representing a total of about $2 billion principal amount of outstanding convertibles, according to an S-1 filing with the Securities and Exchange Commission.

To the extent that any convertibles not owned by the holders are surrendered for conversion prior to the closing date of the offering, the portion of the proceeds that would have been used to pay the redemption price for the convertibles will instead be applied to the repayment of other outstanding debt.

The provider of residential real estate services is based in Parsippany, N.J. Realogy is also a provider of real estate and relocation services based in Parsippany, N.J.

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