RE/MAX lowers $215 million term loan pricing to Libor plus 375 bps

By Sara Rosenberg

New York, April 7 - RE/MAX International Inc. reverse flexed pricing on its $215 million term loan B to Libor plus 375 basis points from Libor plus 400 bps, according to a market source.

Also, 101 call protection was added to the term loan B for one year.

The 1.75% Libor floor and original issue discount of 99 were left unchanged.

RE/MAX's $225 million credit facility also includes $10 million revolver.

JPMorgan is the lead bank on the deal.

Proceeds will be used to refinance existing debt and fund a dividend payment.

RE/MAX is a Denver-based real estate company.

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