Realogy flexes $1.1 billion term loan B to Libor plus 225 bps

By Sara Rosenberg

New York, Jan. 17 – Realogy Holdings Corp. reduced pricing on its $1.1 billion term loan B due 2022 to Libor plus 225 basis points from Libor plus 250 bps, according to a market source.

Also, the 101 soft call protection was extended to one year from six months, the source said.

The loan still has a 0.75% Libor floor and a par issue price.

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

Proceeds will be used to reprice an existing 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.

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

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