MADISON, New Jersey, September 17, 2021 / PRNewswire / – Realogy Holdings Corp. (NYSE: RLGY), the leading and most integrated provider of residential real estate services in the United States in United States, today announced that it has repaid a total of $ 435 million borrowings under its term loan facilities at September 16, 2021. Debt repayment was funded by available cash.
Refunds fully meet the $ 197 million principal amount of outstanding borrowings under its non-extended term loan facility A due February 2023 and the $ 238 million principal amount of outstanding borrowings under its term loan facility B due February 2025. The company expects to achieve approximately $ 10 millions of euros in cash interest expense savings each year through these refunds. The company also continues to have no outstanding balances on its revolving credit facility since October 2020.
“Realogy has achieved exceptional financial performance while maintaining a proactive focus on strengthening our balance sheet. The repayment of these short-term secured loans improves our liquidity profile and supports our continued efforts to manage our debt portfolio, ”said Charlotte simonelli, Chief Financial Officer 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 into the future. As the leading and most integrated provider of residential real estate services in the United States encompassing franchise, brokerage, relocation, ownership and settlement business as well as a mortgage joint venture, Realogy has supported approximately 1.4 million real estate 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®, TIME®, and Sotheby’s International Realty®. Using innovative technology, marketing data and products, high-quality lead generation programs, and world-class learning and support services, Realogy fuels the productivity of its more than 194,200 independent sales agents in the States. United and approximately 142,700 independent sales agents in 117 other countries and territories, helping them build stronger businesses and better serve today’s consumers. Recognized for ten years in a row as one of the World’s Most Ethical Companies, Realogy has also been named a Great Place to Work three years in a row and is one of LinkedIn’s Top 2021 Companies in the United States.
Certain statements contained in this press release constitute “forward-looking statements”. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Realogy Holdings Corp. statements. Any statement that refers 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 of forward-looking statements include, without limitation, those set forth under the headings “Forward-looking statements” and “Risk factors” in the documents filed by Realogy with the Securities and Exchange Commission, including its annual report on Form 10-K for the fiscal 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 deposits made from time to time. Realogy does not undertake to publicly release revisions to forward-looking statements, except as required by law.
SOURCE Realogy Holdings Corp.