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Realogy proposes $400 million of senior secured second-lien notes
Chicago, June 8 – Realogy Holdings Corp. announced that its indirect, wholly owned subsidiary Realogy Group LLC is planning a new offering of $400 million of senior secured second-lien notes (B3) due 2025, according to a press release.
The notes will be secured by substantially the same collateral as the company’s existing first-lien obligations under its senior secured credit facilities on a second priority basis.
Proceeds from the Rule 144A and Regulation S offering will be used to redeem approximately $400 million of the company’s 5¼% senior notes due 2021.
Realogy is a Madison, N.J.-based residential real estate franchising and brokerage services provider.
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