Realogy Corp. plans to issue roughly $593 million of senior secured first lien notes due 2020 and around $325 million of senior secured notes due 2020 in a private placement.
The transactions will be guaranteed on a senior secured basis by the company's parent Domus Intermediate Holdings Corp. Each series of notes will also be guaranteed by Domus Holdings Corp., the company's indirect parent, on an unsecured senior subordinated basis.
Realogy intends to use the net proceeds from the offering of the notes of roughly $918 million, to prepay $629 million of its first lien term loan borrowings under its senior secured credit facility that are due to mature in October 2013, to repay all of the $133 million in outstanding borrowings under its non-extended revolving credit facility due to mature in April 2013, and to repay $156 million of the outstanding borrowings under its extended revolving credit facility due to mature in April 2016.
