Realogy’s Refinancing and Extension of Its Credit Facilities

Simpson Thacher represented JPMorgan Chase Bank, N.A., as administrative agent, in connection with Realogy’s refinancing of its Senior Secured Credit Facilities and extension of its maturity dates. Realogy upsized its Revolving Credit Facility by $350 million to a $1.4 billion total facility, and extended its maturity by three years to February 2023; combined its existing two tranches of Term Loan A into a new single tranche of $750 million, and extended the current maturities to February 2023; and extended the maturity of its approximately $1.1 billion Term Loan B by three years to February 2025.

Realogy Holdings Corp. (NYSE: RLGY) is a leading provider of residential real estate services that is focused on empowering independent sales agents to best serve today’s consumers. Realogy delivers its services through its well-known industry brands including Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, Sotheby’s International Realty® as well as NRT, Cartus, Title Resource Group and ZapLabs, an in-house innovation and technology development lab. The company, led by Ryan M Schneider, Dave Gordon and Donald J Casey, in 2017 recorded $6.114 Billion Revenues.

The Simpson Thacher team included Bill Sheehan (Picture), Mike Vernace and Bassam Chain (Banking and Credit); Larry Moss and Jeanne Annarumma (ECEB).

 

Involved fees earner: William Sheehan – Simpson Thacher & Bartlett; Michael Vernace – Simpson Thacher & Bartlett; Bassam Chain – Simpson Thacher & Bartlett; Laurence Moss – Simpson Thacher & Bartlett; Jeanne Annarumma – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: JPMorgan Chase & Co.;