Realogy repurchases $100 million of its 9% notes during third quarter

By Tali David

Minneapolis, Nov. 4 - Realogy Holdings Corp. repurchased $100 million of its 9% 1.5-lien notes through open market purchases during the third quarter, according to a press release.

The aggregate purchase price was $120 million, including $2 million of accrued interest and a premium of $18 million, according to a 10-Q filed with the Securities and Exchange Commission.

This reduced the company's annualized run-rate cash interest expense to about $240 million and decreased net debt to trailing 12-month adjusted EBITDA leverage ratio to 4.7 times as of Sept. 30.

Realogy is a Madison, N.J.-based real estate sales and relocation services provider.

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