Realogy to launch roughly $1.1 billion term loan B repricing on Monday

By Sara Rosenberg

New York, Jan. 6 – Realogy Holdings Corp. will hold a lender call on Monday to launch a repricing of its roughly $1.1 billion term loan B due 2022, according to a market source.

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

The repriced loan is talked at Libor plus 250 basis points with a 0.75% Libor floor and a par issue price, the source said.

Included in the repriced loan is 101 soft call protection for six months.

The repricing will take the term loan down from Libor plus 300 bps with a 0.75% Libor floor.

In conjunction with the repricing, the company intends to increase the borrowing capacity of its revolving credit facility up to $1 billion, from the existing $815 million capacity, a news release added.

Closing is expected within the next two weeks.

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

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