RISMEDIA, February 7, 2011—Realogy Corporation (the “Company”) announced that it successfully completed its previously announced private offering of $700 million aggregate principal amount of 7.875% Senior Secured Notes due 2019 (the “Notes”) which was exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”).
The Notes are guaranteed on a senior secured basis by Domus Intermediate Holdings Corp., the Company’s parent, and each domestic subsidiary of the Company that is a guarantor under its senior secured credit facility. The Notes are also guaranteed by Domus Holdings Corp., the Company’s indirect parent, on an unsecured senior subordinated basis. The Notes are secured by substantially the same collateral as the Company’s existing first lien obligations under its senior secured credit facility, but the priority of the collateral liens securing the Notes is junior to the collateral liens securing the Company’s first lien obligations under its senior secured credit facility and senior to the collateral liens securing the Company’s second lien obligations under its senior secured credit facility.
The Notes have not be registered under the Securities Act or any state securities law and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and applicable state securities laws. The Notes were offered in the United States only to qualified institutional buyers under Rule 144A of the Securities Act and outside the United States under Regulation S of the Securities Act.
The Company used the net proceeds from the offering of the Notes, along with cash on hand, to prepay $700 million of its first lien term loans the maturity of which was extended in connection with a previously announced amendment to the Company’s senior secured credit facility. The amendment as well as the extensions of the maturity of a significant portion of the Company’s first lien term loans, revolving commitments and synthetic letter of credit commitments became effective upon the prepayment.
For more information, visit www.realogy.com.
