Realogy buys back $44 million of 9%, 7 7/8% notes in first quarter

By Tali Rackner

Norfolk, Va., May 5 - Realogy Holdings Corp. repurchased $29 million of its 9% 11/2-lien notes and $15 million of its 7 7/8 11/2-lien notes through open-market purchases during the first quarter, according to a 10-Q filing with the Securities and Exchange Commission.

On April 7, Realogy Group issued $450 million of 4½% senior notes. It used a portion of the proceeds to buy back $354 million of its 7 7/8% notes and to pay related premiums of $33 million, as well as related fees and expenses.

To date in 2014, the company said it has reduced its senior secured notes balance by $398 million.

Realogy is a Madison, N.J.-based provider of real estate brokerage, relocation and settlement services.

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