Realogy to sell $450 million five-year bullet in Wednesday drive-by

By Paul A. Harris

Portland, Ore., April 2 - Realogy Group LLC plans to participate in an investor conference call set to get underway at noon ET Wednesday to discuss its $450 million offering of non-callable five-year senior notes (existing ratings Caa1/B), according to a market source.

The deal is expected to price later Wednesday.

J.P. Morgan Securities LLC is managing the Rule 144A and Regulation S for life sale.

Proceeds, together with cash on hand, will be used to repay the company's existing secured notes and for general corporate purposes.

Realogy, a Madison, N.J.-based residential real estate services provider, plans to issue the notes in conjunction with its Realogy Co-Issuer Corp. unit.

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