Realogy Holdings Corp. announced that it had repaid a total of $ 435 million in outstanding borrowings under its term loan facilities as of September 16, 2021. The debt repayment was funded by available cash.
Repayments fully cover the $ 197 million principal amount of outstanding borrowings under its non-extended A Term Loan Facility maturing in February 2023 and the $ 238 million principal amount of outstanding borrowings under its B term loan facility matures in February 2025. The company expects to realize approximately $ 10 million in savings on cash interest charges each year from these repayments. 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, in a statement. “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. “
For more information, please visit www.realogy.com.