Realogy guides $500 million seven-year notes at 5% area, pricing Thursday

By Paul A. Harris

Portland, Ore., May 26 – Realogy Holdings Corp. is guiding a $500 million offering of non-callable seven-year senior notes at a yield in the 5% area, according to a market source.

Official price talk was expected to be announced around midday and the Rule 144A and Regulation S deal is expected to price Thursday afternoon, the source added.

JP Morgan Securities LLC, Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. are the joint bookrunners.

The Madison, N.J.-based residential real estate franchising and brokerage services provider plans to use the proceeds to reduce outstanding borrowings under its revolving credit facility. Remaining proceeds to be used for general corporate purposes, which may include additional debt transactions.

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