Realogy readies launch of $1.43 billion in term loans for Friday

By Sara Rosenberg

New York, July 7 – Realogy Group LLC is set to hold a lender call at 11 a.m. ET on Friday to launch $1.43 billion in term loans, according to a market source.

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

The debt is split between a $1.1 billion term loan B due 2022 and a $330 million term loan A due 2021, the source said.

Price talk on the term loan B is Libor plus 300 basis points with a 0.75% Libor floor and an original issue discount of 99.5 to 99.75, the source continued.

The term loan B has 101 soft call protection for six months.

Proceeds from the term loans, borrowings under the company’s revolving credit facility and cash on hand will be used to refinance an existing roughly $1.9 billion term loan B.

Closing on the refinancing is expected in mid-July.

Realogy is a Madison, N.J.-based real estate company.

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