MADISON, N.J., Sept. 17, 2021 /PRNewswire/ -- Realogy Holdings
Corp. (NYSE: RLGY), the leading and most integrated provider
of U.S. residential real estate services in the United States, today announced that it has
repaid an aggregate of $435 million
of outstanding borrowings under its term loan facilities as of
September 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. "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."
About Realogy Holdings Corp.
Realogy Holdings
Corp. (NYSE: RLGY) is moving the real estate industry to
what's next. As the leading and most integrated provider of U.S.
residential real estate services encompassing franchise, brokerage,
relocation, and title and settlement businesses as well as a
mortgage joint venture, Realogy supported approximately 1.4 million
home transactions in 2020. The company's diverse brand portfolio
includes some of the most recognized names in real estate:Better
Homes and Gardens® Real Estate, CENTURY
21®, Coldwell
Banker®, Coldwell Banker Commercial®,
Corcoran®, ERA®, and Sotheby's International
Realty®. Using innovative technology, data and marketing
products, high-quality lead generation programs, and best-in-class
learning and support services, Realogy fuels the productivity of
its approximately 194,200 independent sales agents in the U.S. and
approximately 142,700 independent sales agents in 117 other
countries and territories, helping them build stronger businesses
and best serve today's consumers. Recognized for ten consecutive
years as one of the World's Most Ethical Companies, Realogy has
also been designated a Great Place to Work three years in a row and
is one of LinkedIn's 2021 Top Companies in the U.S.
Forward-Looking Statements
Certain statements in this press release constitute
"forward-looking statements." Such forward-looking statements
involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
Realogy Holdings Corp. to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Any statements that refer to
expectations or other characterizations of future events,
circumstances or results are forward-looking statements.
Various factors that could cause actual future results and other
future events to differ materially from those in forward-looking
statements include but are not limited to those set forth under the
headings "Forward-Looking Statements" and "Risk Factors" in
Realogy's filings with the Securities and Exchange Commission,
including its Annual Report on Form 10-K for the year
ended December 31, 2020, its Quarterly Reports on Form 10-Q
for the quarters ended March 31, 2021 and June 30, 2021 and its other filings made from
time to time. Realogy undertakes no obligation to release publicly
any revisions to any forward-looking statements, except as required
by law.
Investor
Contacts:
|
Media
Contacts:
|
Alicia
Swift
|
Trey
Sarten
|
(973)
407-4669
|
(973)
407-2162
|
alicia.swift@realogy.com
|
trey.sarten@realogy.com
|
|
|
Danielle
Kloeblen
|
Gabriella
Chiera
|
(973)
407-2148
|
(973)
407-5236
|
danielle.kloeblen@realogy.com
|
Gabriella.Chiera@realogy.com
|
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SOURCE Realogy Holdings Corp.