Welcome!




Expand Your Education with These Courses from
Becoming a Successful Sales Professional: Skills for Sales Success: Part One.
Business Creation - Prospecting: Skills for Sales Success: Part Three.
Expand your education through NAR's REALTOR® University: A Consumer Advocate Approach to Mortgages: Course 2.
A Consumer Advocate Approach to Real Estate & Mortgages: Courses 1 & 2.
Bundle 3: CIPS Institute (US Version).

Realogy Announces Proposed Amendment to Senior Credit Facility

Have a comment on this article? Share on Facebook!

RISMEDIA, January 19, 2011—Realogy Corporation has announced that it is seeking an amendment to its senior secured credit facility, which would, among other things, amend certain terms and conditions of the credit facility and extend the maturity of its first lien term loans from October 10, 2013 to October 10, 2016; its revolving credit facility from April 10, 2013 to April 10, 2016 and; its synthetic letter of credit facility from October 10, 2013 to October 10, 2016. The extended credit facility will be subject to modified interest rates. The extended credit facility will also provide the company with additional flexibility in the future to incur secured indebtedness to refinance certain of its outstanding secured and unsecured indebtedness and additional junior lien indebtedness.

Pursuant to the terms of the existing credit facility, a majority of all lenders is needed to approve the proposed amendment. In connection with, and as a condition to, the amendment to the credit facility, the company intends to undertake a new $700 million secured debt financing, the proceeds of which will be used to prepay a portion of the extended term loans. The completion of each of the amend and extend transaction and new secured debt financing is subject to market and certain customary conditions. There can be no assurance that these transactions will be consummated on the terms described above or at all.

For more information, visit www.realogy.com.

Want instant access to great articles like this for your blog or newsletter? Check out our 30-day FREE trial of REsource Licensed Real Estate Content Solutions. Need easy stay-in-touch e-Marketing solutions too? Try Pop-a-Note for 99 cents!
Join RISMedia on Twitter and Facebook to connect with us and share your thoughts on this and other topics.




Copyright© 2014 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com

Our Latest News >>