August 29, 2016 4:46 AM ET

Real Estate Management and Development

Company Overview of Realogy Group LLC

Company Overview

Realogy Group LLC provides residential real estate services in the United States and internationally. The company’s Real Estate Franchise Services segment franchises residential real estate brokerages through its portfolio of brands, including Century 21, Coldwell Banker, Coldwell Banker Commercial, ERA, Sotheby’s International Realty, and Better Homes and Gardens Real Estate. As of March 31, 2015, its franchise systems had approximately 13,600 offices, including approximately 6,000 brokerage offices and approximately 256,800 independent sales associates. Its Company Owned Real Estate Brokerage Services segment owns and operates full-service real estate brokerage business under the Coldwell ...

175 Park Avenue

Madison, NJ 07940

United States

Founded in 2006

Phone:

973-407-2000

Key Executives for Realogy Group LLC

Chairman, Chief Executive Officer and President
Age: 62
Chief Financial Officer, Executive Vice President and Treasurer
Age: 57
Chief Executive Officer of Cartus Corporation and President of Cartus Corporation
Age: 62
Chief Executive Officer of Realogy Franchise Group and President of Realogy Franchise Group
Age: 68
Chief Executive Officer of NRT LLC and President of NRT LLC
Age: 59
Compensation as of Fiscal Year 2016.

Realogy Group LLC Key Developments

Realogy Group LLC Announces Borrowing of New Tranche of Term Loans and Refinancing of Existing Term Loan B

On July 20, 2016, Realogy Group LLC, (“Realogy Group”) refinanced certain indebtedness by (1) borrowing a new tranche of term loans under its term loan A senior secured credit facility of $355 million with a five-year maturity and (2) refinancing its existing term loan B of $1.863 billion due March 2020 under its senior secured credit facility with a new term loan B of $1.1 billion due July 2022. Simultaneously, the net proceeds from the new tranche of term loans under the term loan A senior secured credit facility and the new term loan B together with revolver borrowings of $225 million under the senior secured credit facility and cash on hand were used to repay the existing $1.863 billion term loan B. On July 20, 2016, Realogy Group entered into a first amendment to the term loan A senior secured credit agreement, dated as of October 23, 2015, with Intermediate Holdings, the lenders party thereto from time to time and JPMorgan Chase Bank, N.A., as administrative agent for the lenders. The first amendment provides for a new tranche of term loan A borrowings, named “Term A-1 Loans,” in the amount of $355 million that mature on July 20, 2021. JPMorgan Chase Bank, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Bank plc, Citizens Bank, N.A., Credit Agricole Corporate and Investment Bank, Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA and SunTrust Robinson Humphrey Inc. acted as joint lead arrangers and joint bookrunners for the New Term A-1 Loans. Consistent with the pricing on the existing term A loans, the interest rates with respect to the New Term A-1 Loans under the term loan A agreement are based on, at its option, adjusted LIBOR plus 2.25% or ABR plus 1.25%, in each case subject to adjustment based on the company’s senior secured leverage ratio. The first amendment expands the pricing grid for the New Term A-1 Loans to include a new pricing adjustment where the senior secured leverage ratio is less than 2.00% as follows: The New Term Loan A-1 Loans provide for quarterly amortization payments on the last day of each quarter, totaling per annum 2.5%, 2.5%, 5.0%, 7.5% and 10.0% of the original principal amount of the New Term Loan A-1 Loans, commencing September 30, 2016, with the balance of the New Term A-1 Loans due in full on July 20, 2021. All other material provisions under the term loan A agreement remain substantially unchanged. On July 20, 2016, Realogy Group entered into a third amendment to the amended and restated credit agreement, dated as of March 5, 2013, as amended, among Intermediate Holdings, Realogy Group, the several lenders from time to time parties thereto, JPMorgan Chase Bank, N.A., as administrative agent, and the other agents parties thereto. The third amendment replaced the existing $1.863 billion term loan issued under the credit agreement through a refinancing of the existing term loan with a new $1.1 billion term loan B due July 20, 2022. Net proceeds from the New Term A-1 Loans, the New Term Loan B, revolver borrowings of $225 million under the credit agreement and cash on hand were used to repay the existing term loan B. The interest rate and amortization with respect to the new term loan B remains unchanged from the existing term loan B and all other material provisions under the credit agreement remain substantially unchanged. JPMorgan Chase Bank, N.A., BMO Capital Markets Corp., Barclays Bank plc, Citigroup Global Markets Inc., Credit Agricole Corporate and Investment Bank, Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA and SunTrust Robinson Humphrey Inc. acted as joint lead arrangers and joint bookrunners for the New term loan B.

Realogy Group LLC Proposes $500 Million Offering of Senior Notes

Realogy Holdings Corp. announced that its indirect, wholly-owned subsidiary, Realogy Group LLC, together with a co-issuer, is proposing to issue $500 million aggregate principal amount of senior notes due 2023 in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended. The notes will be guaranteed on an unsecured senior basis by each of Realogy Group's domestic subsidiaries (other than the co-issuer of the Notes) that is a guarantor under its senior secured credit facilities and its outstanding securities. The notes will also be guaranteed by the company on an unsecured senior subordinated basis. The notes will be effectively subordinated to all of Realogy Group's existing and future senior secured debt, including its senior secured credit facilities, to the extent of the value of the assets securing such debt. The company intends to use a portion of the net proceeds from this offering to reduce outstanding borrowings under its revolving credit facility and the remaining proceeds for general corporate purposes, which may include additional debt transactions.

Realogy Proposes to Issue $250 Million Aggregate Principal Amount of 5.250% Senior Notes Due 2021

Realogy Group LLC proposed to issue $250 million aggregate principal amount of 5.250% senior notes due 2021 in a private offering that is exempt from the registration requirements of the Securities Act of 1933. The Notes will be issued under the same indenture as the $300 million aggregate principal amount of Realogy Group's 5.250% senior notes due 2021. The Notes will have identical terms, other than the issue date, the issue price and the first interest payment date, and will constitute part of the same series as the Existing 5.250% Senior Notes. The Notes will have the same CUSIP numbers as the Existing 5.250% Senior Notes, except for the Notes sold pursuant to Regulation S which will, on the 40th day following the issue date of the Notes, have the same CUSIP numbers. The Notes that have the same CUSIP numbers as the Existing 5.250% Senior Notes are expected to be fungible with the Existing 5.250% Senior Notes. The Company 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.

Similar Private Companies By Industry

Company Name Region
+Process Team LLC United States
02 Lafayette LLC United States
10-12 MLane, LLC United States
10-20 Channel Center Property Owner LLC United States
10/120 South Riverside Fee LLC United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

The information and data displayed in this profile are created and managed by Capital IQ, a Standard & Poor's company. Bloomberg.com does not create or control the content. For inquiries, please contact Capital IQ directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
Bloomberg L.P. United States
NYC2012, Inc. United States
Rush University United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Realogy Group LLC, please visit www.realogy.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.