Realogy Holdings Corp. announced that it has repaid an aggregate of $435 million of outstanding borrowings under its term loan facilities as of Sept. 16, 2021. The debt repayment was funded with cash on hand.
The repayments satisfy in full the $197 million principal amount of outstanding borrowings under its non-extended Term Loan A facility due February 2023 and the $238 million principal amount of outstanding borrowings under its Term Loan B facility due February 2025. The company expects to realize approximately $10 million in cash interest expense savings annually as a result of these repayments. The company also continues to have no outstanding balance on its revolving credit facility since October 2020.
“Realogy has delivered outstanding financial performance while maintaining a proactive focus on strengthening our balance sheet. The repayment of these near-term secured loans improves our liquidity profile and supports our continued efforts to manage our debt portfolio,” said Charlotte Simonelli, CFO and treasurer of Realogy, in a statement. “We have made tremendous progress to date and remain committed to continuing to deleverage, strengthen our balance sheet, and strategically invest in our business for the future.”
For more information, please visit www.realogy.com.