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Realogy will not extend tender offer for floaters due 2009, 6.15% notes, 6½% notes
By Angela McDaniels
Seattle, June 27 - Realogy Corp. said the change-of-control offer for its $250 million of floating-rate senior notes due 2009, $450 million of 6.15% senior notes due 2011 and $500 million of 6½% senior notes due 2016 will expire as planned at 10 a.m. ET on July 3.
The offer is required under the note indentures following a change-of-control triggering event on April 10, when Realogy merged with an affiliate of Apollo Management, LP as well as the notes being downgraded to speculative grade by Moody's Investors Service and Standard & Poor's in March.
The Parsippany, N.J., real estate franchisor said it will buy the notes at par plus accrued interest up to the July 9 payment date.
The offer began on May 10.
Wells Fargo Bank, NA (213 614-2588) is the depositary.
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