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Realogy closes $1.1B term loan B repricing

Realogy Holdings Corp. repriced its existing roughly $1.1 billion term loan B under its senior secured credit facility and boosted its revolving credit facility's borrowing capacity to $1.05 billion from $815 million.

The new term loan B will continue to mature July 20, 2022, and carries an interest rate equal to adjusted LIBOR plus a 2.25% margin and a 0.75% floor, or alternate base rate plus 1.25% and a 1.75% floor, representing a 75-basis-point lower margin rate than that of the previous term loan.

Realogy said it expects its annual cash interest expense to decrease to roughly $165 million.