Realogy to launch $1.08 billion term loan B extension on Thursday

By Sara Rosenberg

New York, Jan. 17 – Realogy Holdings Corp. is scheduled to hold a lender call on Thursday to launch an extension of its $1.08 billion term loan B by three years to January 2025, according to a market source.

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

Price talk on the extended B loan is Libor plus 225 basis points with a 0.75% Libor floor and an original issue discount of 99.5 to par, the source said.

The company also plans to upsize its revolving credit facility by $350 million to $1.4 billion and extend the maturity by three years to January 2023, as well as to combine its two existing term loan A tranches into a new single tranche of $750 million and extend the current maturities to January 2023, a news release added.

Closing is expected by early February.

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

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