Realogy expected to launch $3.65 billion note offering March 19 week

By Paul A. Harris

St. Louis, March 16 - Realogy Corp. is expected to launch its $3.65 billion high-yield note offering during the March 19 week, according to a market source, who added that the final week of March could see the launch of several sizable leveraged buyout deals.

JP Morgan, Credit Suisse, Bear Stearns and Citigroup will be joint bookrunners.

The Parsippany, N.J., real estate franchisor is expected to offer $2 billion of senior unsecured notes, $750 million of senior unsecured pay-in-kind toggle notes and $900 million of senior subordinated notes.

Proceeds will be used to help fund the approximately $9 billion LBO of the company by Apollo Management.

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