Realogy Launches $1.15 Billion Senior Secured Credit Facilities

MADISON, N.J., Oct. 6, 2015 /PRNewswire/ -- Realogy Holdings Corp. RLGY, the preeminent and most integrated provider of residential real estate services in the United States, today announced its intention to raise $1.15 billion of senior secured credit facilities. Realogy is seeking to amend and increase its existing revolving credit facility to $750 million and to fund a new Term Loan A facility of $400 million, both with five-year maturities. The terms of Realogy's existing Term Loan B will remain unchanged.

Realogy plans to use the proceeds of the new term loan, borrowings under the upsized revolving credit facility and cash on hand to retire approximately $789 million principal amount of its highest-cost debt by year-end 2015. Specifically, the Company intends to pay off $593 million principal amount of 7.625% First Lien Notes and $196 million principal amount of 9.00% First and a Half Lien Notes, plus premiums and accrued and unpaid interest, before year-end 2015. The Company also intends to use cash on hand and revolver borrowings to repay at maturity its $500 million principal amount of 3.375% Senior Notes due in May 2016.

The Company anticipates that the financing will be completed before the end of October 2015. However, there can be no assurance that Realogy will be able to complete the transactions, which are subject to market and other customary conditions.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements include, but are not limited to, statements related to the proposed revolving credit facility amendment and Term Loan A financing, the anticipated use of proceeds therefrom, our expectation that we will close the financing later this month and our expectation regarding the repayment of the $500 million 3.375% Senior Notes at maturity in May 2016 with cash on hand and revolver borrowings. These forward-looking statements involve known and unknown risks, uncertainties and other factors discussed in Realogy's filings with the SEC. Any forward-looking statements speak only as of the date of this press release and, except to the extent required by applicable securities laws, Realogy expressly disclaims any obligation to update or revise any of them to reflect actual results, any changes in expectations or any change in events. For additional information concerning risks, uncertainties and other factors that may cause actual results to differ from those anticipated in the forward-looking statements, and risks to our business in general, please refer to Realogy Holdings Corp.'s SEC filings, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2014 and its quarterly report on Form 10-Q for the quarterly period ended June 30, 2015.

About Realogy Holdings Corp.
Realogy Holdings Corp. RLGY is a global leader in residential real estate franchising and brokerage with many of the best-known industry brands including Better Homes and Gardens^® Real Estate, CENTURY 21^®, Coldwell Banker^®, Coldwell Banker Commercial^®, The Corcoran Group^®, ERA^®, Sotheby's International Realty^® and ZipRealty^®. Collectively, Realogy's franchise system members operate approximately 13,500 offices with more than 254,800 independent sales associates conducting business in 111 countries and territories around the world. NRT LLC, Realogy's company-owned real estate brokerage, is the largest residential brokerage company in the United States, operates under several of Realogy's brands and also provides related residential real estate services. The Company also owns Cartus, a prominent worldwide provider of relocation services to corporate and affinity clients, and Title Resource Group, a leading provider of title, settlement and underwriting services. Realogy is headquartered in Madison, New Jersey.

Investor Contacts:
Alicia Swift
(973) 407-4669
alicia.swift@realogy.com  

Jennifer Pepper
(973) 407-7487
jennifer.pepper@realogy.com

Media Contact:
Mark Panus
(973) 407-7215
mark.panus@realogy.com

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SOURCE Realogy Holdings Corp.