Simpson Thacher represented the initial purchasers, led by joint book-running managers, J.P. Morgan Securities LLC, Goldman, Sachs & Co., Barclays Capital Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Credit Agricole Securities (USA) Inc., and by co-manager, CRT Capital Group LLC, in the sale of an aggregate principal amount of $500 million 3.375% Senior Notes due 2016 by Realogy Group LLC (“Realogy”). The notes are guaranteed on an unsecured senior subordinated basis by Realogy Holdings Corp., the indirect parent of Realogy, and on an unsecured senior basis by each of Realogy’s existing and future domestic subsidiaries that is a guarantor under Realogy’s senior secured credit facility and its existing secured notes or that guarantees certain other indebtedness in the future, subject to certain exceptions. Realogy intends to use the net proceeds from the offering, together with borrowings under its revolving credit facility, to redeem all of its outstanding 11.50% Senior Notes due 2017.
Realogy is the preeminent and most integrated provider of residential real estate services in the U.S. It is the world’s largest franchisor of residential real estate brokerages with some of the most recognized brands in the real estate industry, the largest owner of U.S. residential real estate brokerage offices, the largest U.S. and a leading global provider of outsourced employee relocation services and a significant provider of title and settlement services.
The Simpson Thacher team included Art Robinson, Marisa Stavenas, David Azarkh, Jo Djekovic and Chris Jackson (Capital Markets); William Sheehan (Credit); Jonathan Cantor and Vanessa Cohen (Tax); Jeanne Annarumma (Executive Compensation and Employee Benefits); and Jennie Getsin (Blue Sky).