RE/MAX readies launch of $230 million term loan B for Thursday

By Sara Rosenberg

New York, July 17 - RE/MAX LLC is scheduled to hold a conference call at 2 p.m. ET on Thursday to launch a $230 million seven-year term loan B, according to a market source.

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

The term loan B is talked at Libor plus 325 basis points to 350 bps with a 1% Libor floor and an original issue discount of 993/4, the source said.

Included in the loan is 101 soft call protection for one year.

Expected ratings are B1/B+, the source added.

Proceeds will be used to refinance existing bank debt.

RE/MAX is a Denver-based real estate company.

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