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Realogy plans to refinance credit facility, arranges commitments for new term loan

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Realogy plans to refinance credit facility, arranges commitments for new term loan

RealogyHoldings Corp. is seeking to refinance its term loan B creditfacility in order to extend the maturity date by two years to 2022.

The company also has commitments in place from its bank groupfor a new term loan A tranche. The facility will mature in 2021 and theproceeds are expected to amount to $330 million.

Net proceeds from the new term loan A issuance, borrowingsunder a revolving credit facility and cash on hand will be used to reduce thecompany's outstanding term loan B borrowings to $1.1 billion from $1.9 billion.

The financings are expected to be complete by mid-July.