Realogy restructuring debt 

Franchise giant Realogy Corp. is in the midst of a debt restructuring that, if the company chooses to go public again, could allow it to shed $2 billion in bond debt by exchanging it for shares of company common stock.

If Realogy does pursue an initial public offering, private equity firm Apollo Management could reportedly convert enough Realogy bond debt into shares to become the majority stakeholder in the company.

Realogy -- whose brands include Century 21, Coldwell Banker and Better Homes and Gardens Real Estate -- was acquired by an affiliate of Apollo Management in April 2007 and taken private in a leveraged deal that left the company deeply in debt.

more...

To view this premium content sign in to your Premium Member account.

Premium Members have full access to all news archives & premium content.

Purchase Professional Membership for $199/year OR
Premium+ Membership for $149/year OR
News Membership for $69/year

Buy Now

Advertise with Inman

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.