Realogy Holdings upsizes revolving credit facility to $1.05 billion

By Susanna Moon

Chicago, Jan. 23 – Realogy Holdings Corp. upsized its revolving credit facility to $1.05 billion from $815 million in conjunction with the repricing of its $1.1 billion term loan B due 2022.

The maturity of the new term loan is still July 20, 2022, and all other material provisions under the senior secured credit agreement remain unchanged, according to a company announcement.

As announced Jan. 17, Realogy reduced pricing on the term loan to Libor plus 225 basis points from Libor plus 250 bps.

The company had planned to increase the revolver size to $1 billion.

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.

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

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