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February 10, 2016 12:55 PM 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 13,500 franchised and company owned offices, including approximately 6,000 brokerage offices and approximately 251,300 independent sales associates. Its Company Owned Real Estate Brokerage Services segment owns and operates full-service real estate brokerage...

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: 61
Chief Financial Officer, Executive Vice President and Treasurer
Age: 56
Chief Executive Officer of Cartus Corporation and President of Cartus Corporation
Age: 61
Chief Executive Officer of Realogy Franchise Group and President of Realogy Franchise Group
Age: 67
Chief Executive Officer of NRT LLC and President of NRT LLC
Age: 58
Compensation as of Fiscal Year 2015.

Realogy Group LLC Key Developments

Realogy Group LLC Redeems $196 Million 9.000% Senior Secured Notes Due 2020

On November 30, 2015, Realogy Group LLC redeemed the $196 million aggregate principal amount of outstanding 9.000% Senior Secured Notes due 2020 (the 9.000% Senior Secured Notes) in accordance with the terms and provisions of the indenture governing the 9.000% Senior Secured Notes, dated as of February 2, 2012 (as supplemented, the 9.000% Senior Secured Notes Indenture), among Realogy Group, Realogy Holdings, the subsidiary guarantors party thereto, and The Bank of New York Mellon Trust Company, N.A. as trustee, at a redemption price of 105.490%. In connection with the redemption of the 9.000% Senior Secured Notes, Realogy Group paid total consideration of approximately $213 million, which included the applicable redemption premium and accrued and unpaid interest. Immediately following such redemption, Realogy Group cancelled the 9.000% Senior Secured Notes and discharged the 9.000% Senior Secured Notes Indenture in accordance with its terms.

Realogy Group LLC Amends and Increases its Revolving Credit Facility

Realogy Group LLC refinanced certain indebtedness by amending and increasing its revolving credit facility to $815 million under its existing senior secured credit agreement and by entering into a new Term Loan A facility of $435 million, both with five-year maturities. On the same date, the net proceeds from the Term Loan A facility together with revolver borrowings were used to discharge the $593 million aggregate principal amount of 7.625% Senior Secured First Lien Notes due 2020 (the First Lien Notes), together with applicable premiums and accrued and unpaid interest. The terms of Realogy Group's existing Term Loan B facility under the senior secured credit agreement remain unchanged. The Second Amendment provides for a new, five-year, $815 million revolving credit facility that refinances and replaces the prior $475 million revolving credit facility under the Amended and Restated Credit Agreement (the Revolving Credit Facility) and includes a $125 million letter of credit sub-facility. The Revolving Credit Facility has a maturity date of October 23, 2020. The company will use the Revolving Credit Facility for, among other things, and respective subsidiaries' working capital and other general corporate purposes, including, without limitation, effecting permitted acquisitions and investments. The Term Loan B facility and the synthetic letter of credit facility under the Amended and Restated Credit Agreement are unaffected by the Second Amendment. In the event the Term Loan B under the Credit Agreement is not repaid (whether through a refinancing permitted under the Credit Agreement or otherwise) in full prior to December 5, 2019 or the maturity date of the Term Loan B facility (and any other maturity date applicable to any other term loans) has not been extended to a date not earlier than January 22, 2021, the maturity date of the Revolving Credit Facility will be December 5, 2019. The interest rates with respect to the new revolving loans to under the Revolving Credit Facility are based on, at option, adjusted LIBOR plus 2.25% or ABR plus 1.25%, in each case subject to adjustment based on the company's then current senior secured leverage ratio.

Realogy Group LLC Redeem $332 Million Aggregate Principal Amount of Outstanding 7.875% Senior Secured Notes Due 2019

On December 22, 2014, Realogy Group LLC redeemed the approximately $332 million aggregate principal amount of outstanding 7.875% Senior Secured Notes due 2019 (the 7.875% Senior Secured Notes") in accordance with the terms and provisions of the indenture governing the 7.875% Senior Secured Notes, dated as of February 3, 2011, among Realogy Group, Realogy Holdings, Realogy Co-Issuer Corp., as co-issuer, the subsidiary guarantors party thereto, and The Bank of New York Mellon Trust Company, N.A. as trustee, at a redemption price equal to 100% of the principal amount of each such 7.875% Senior Secured Note, plus the Applicable Premium (as defined in the 7.875% Senior Secured Notes Indenture), or 104.986318%, together with accrued and unpaid interest. In connection with the redemption of the 7.875% Senior Secured Notes, Realogy Group paid total consideration of approximately $358 million, which included the applicable redemption premium and accrued and unpaid interest. Immediately following such redemption, Realogy Group cancelled the 7.875% Senior Secured Notes and discharged the 7.875% Senior Secured Notes Indenture in accordance with its terms. Realogy Group utilized the net proceeds from the offering of the 5.250% Senior Notes due 2021 consummated in November 2014, together with cash on hand, to redeem the 7.875% Senior Secured Notes.

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