Simpson Thacher Represents Initial Purchasers in $918 Million Senior Secured Notes Offering by Realogy
02.06.12
This is only gets display when printing
Simpson Thacher recently represented the initial purchasers, led by J.P. Morgan Securities LLC, Barclay’s Capital Inc., Credit Suisse Securities (USA) LLC and Goldman, Sachs & Co. in connection with a Rule 144A/Regulation S private offering of $593 million aggregate principal amount of 7.625% Senior Secured First Lien Notes due 2020 and $325 million aggregate principal amount of 9.000% Senior Secured Notes due 2020 by Realogy Corporation (“Realogy”). The Senior Secured First Lien Notes are secured on a pari passu basis with Realogy’s first lien borrowings under its credit facility and the Senior Secured Notes are secured on a first and a half lien basis pari passu with Realogy’s existing senior secured notes due 2019. The Notes are guaranteed on a senior secured basis by Domus Intermediate Holdings Corp., Realogy's parent, and each domestic subsidiary of Realogy that is a guarantor under its senior secured credit facility and certain of its outstanding debt securities. The Notes are also guaranteed by Domus Holdings Corp., Realogy's indirect parent, on an unsecured senior subordinated basis. Realogy used the proceeds from the offering to prepay certain of its term loan borrowings and repay certain of its outstanding revolver borrowings both under its senior secured credit facility.
Realogy is a global provider of real estate and relocation services with brands and business units including Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®,Coldwell Banker Commercial®, The Corcoran Group®, ERA®, Sotheby's International Realty®, NRT LLC, Cartus and Title Resource Group.
The Simpson Thacher team included Art Robinson, Marisa Stavenas, Lia Toback, Juan Naveira, Tyler Flood and Brittany McCants (Capital Markets); Bill Sheehan, Erik Hepler, Jessica Tuchinsky, Mike Vernace and Andrea Sung (Credit and Intercreditor Matters); Jonathan Pall (Collateral); Michael Isby (Environmental); Steven R. DeLott (Insurance); Mindy Lok (IP); Jennie Getsin (Blue Sky); Jeanne Annarumma and Grace Lin (Executive Compensation and Employee Benefits); Mardi Merjian (Real Estate); Jonathan Cantor and Vanessa Cohen (Tax); and Shahpur K. Kabraji and Richard Rees (Corporate – London).