Realogy plans amendment to extend revolver and term loan A maturities

By Sara Rosenberg

New York, Jan. 6 – Realogy Holdings Corp. plans to amend its credit facilities to extend the revolver and term loan A maturities to 2025 from 2023, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

In addition, the amendment would reduce the senior secured leverage ratio covenant.

JPMorgan Chase Bank is the administrative agent on the credit facilities.

The company intends to complete the amendment following a $600 million senior notes offering.

Proceeds from the notes will be used to repay a portion of the outstanding borrowings under its term loan A and a portion of the outstanding borrowings under its term loan B.

The notes are not conditioned on the amendment, and the amendment is not conditioned on the notes.

Realogy is a Madison, N.J.-based provider of U.S. residential real estate services.

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