07 03 2016

Realogy Group LLC $250 Million Additional Senior Notes Offering

Simpson Thacher represented J.P. Morgan Securities LLC and Barclays Capital Inc. in the sale of an aggregate principal amount of $250 million additional 5.250% senior notes due 2021 by Realogy Group LLC (“Realogy”) and Realogy Co-Issuer Corp.


The notes are issued under the same indenture as the $300 million aggregate principal amount of Realogy’s 5.250% senior notes due 2021 issued on November 21, 2014 and constitute part of the same series as such existing notes. The notes are guaranteed on an unsecured senior subordinated basis by Realogy Holdings Corp., the indirect parent of Realogy, and on an unsecured senior basis by each of Realogy’s domestic subsidiaries (other than Co-Issuer) that is a guarantor under Realogy’s senior secured credit facilities and its outstanding securities. Realogy intends to use the net proceeds from the offering of the notes to temporarily reduce outstanding borrowings under its revolving credit facility and for working capital purposes, prior to using such net proceeds to retire a portion of its outstanding 3.375% senior notes at maturity in May 2016. Realogy 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®. The Simpson Thacher team for the transaction included, among others, Arthur Robinson (Picture), David Azarkh, Tadashi Okamoto and Derrick Sutter (Capital Markets); Jonathan Cantor and George Davis (Tax); Michael Vernace (Credit); Abram Ellis (Regulatory); Jeanne Annarumma, Patricia Adams and Eric Wolf (Executive Compensation and Employee Benefits); Steven DeLott (Insurance); Michael Isby (Environmental); and Jennie Getsin (Blue Sky).  Involved fees earner: Arthur Robinson - Simpson Thacher & Bartlett; David Azarkh - Simpson Thacher & Bartlett; Tadashi Okamoto - Simpson Thacher & Bartlett; Derrick Sutter - Simpson Thacher & Bartlett; Jonathan Cantor - Simpson Thacher & Bartlett; George Davis - Simpson Thacher & Bartlett; Michael Vernace - Simpson Thacher & Bartlett; Steven DeLott - Simpson Thacher & Bartlett; Abram Ellis - Simpson Thacher & Bartlett; Jennie Getsin - Simpson Thacher & Bartlett; Jeanne Annarumma - Simpson Thacher & Bartlett; Patricia Adams - Simpson Thacher & Bartlett; Eric Wolf - Simpson Thacher & Bartlett; Michael Isby - Simpson Thacher & Bartlett;

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