XML 63 R28.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Subsequent Events | 12 Months Ended
--- | ---
Dec. 31, 2021
Subsequent Events [Abstract] |
Subsequent Events [Text Block] | SUBSEQUENT EVENTS Senior Notes Offering and Redemption of 9.375% Senior Notes and 7.625% Senior Secured Second Lien Notes On January 10, 2022, Realogy Group together with Realogy Co-Issuer Corp. (the "Co-Issuer") issued $1,000 million of 5.25% Senior Notes due 2030, under an indenture dated as of January 10, 2022. The 5.25% Senior Notes are unsecured senior obligations of Realogy Group, mature on April 15, 2030 and bear interest at a rate of 5.25% per annum. Interest on the 5.25% Senior Notes will be payable semiannually to holders of record at the close of business on April 1 or October 1, immediately preceding the interest payment date on April 15 and October 15 of each year, commencing April 15, 2022. The 5.25% Senior Notes are jointly and severally guaranteed by each of Realogy Group's existing and future U.S. subsidiaries that is a guarantor under its Senior Secured Credit Facility and Term Loan A Facility or that guarantees certain other indebtedness in the future (other than the Co-Issuer), subject to certain exceptions, and by Realogy Holdings on an unsecured senior subordinated basis. The indenture governing the 5.25% Senior Notes contains various covenants that limit Realogy Group and its restricted subsidiaries’ ability to take certain actions and are materially consistent with the covenants included in the indenture governing the 5.75% Senior Notes. The net proceeds from the issuance of the 5.25% Senior Notes, together with cash on hand, were used on February 4, 2022 to redeem in full both the outstanding $550 million of 9.375% Senior Notes and the $550 million of 7.625% Senior Secured Second Lien Notes, each at a redemption price of 100% plus the applicable "make whole" premium, together with accrued and unpaid interest to the redemption date on both such notes. Realogy Group paid total consideration of approximately $613 million in connection with the redemption of the 9.375% Senior Notes and $589 million in connection with the redemption of the 7.625% Senior Secured Second Lien Notes. Immediately following such redemptions, Realogy Group cancelled the 9.375% Senior Notes and 7.625% Senior Secured Second Lien Notes and discharged the applicable indentures in accordance with their terms.

X
- References No definition available. + Details
Name: | us-gaap_SubsequentEventsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
Name: | us-gaap_SubsequentEventsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration