Realogy ups spread on $1.82 billion term loan B to Libor plus 350 bps

By Sara Rosenberg

New York, Feb. 22 - Realogy Group LLC lifted pricing on its $1.82 billion term loan B due 2020 to Libor plus 350 basis points from talk of Libor plus 300 bps to 325 bps, according to a market source.

Also, the offer price guidance on the loan widened to 99 to 99½ from par, and the 101 soft call protection was extended to one year from six months, the source said.

The 1% Libor floor was unchanged.

The company's up to $2.42 billion credit facility also includes an up to $600 million revolver due 2018.

Recommitments were due by 5 p.m. ET on Friday, the source added.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used to refinance an existing $363 million revolver due April 2016 and a $1.82 billion term loan due October 2016.

Closing is expected this month.

Realogy is a Parsippany, N.J.-based provider of real estate brokerage, relocation and settlement services.

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