Short And Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2024

Total indebtedness is as follows:


	September 30, 2024		December 31, 2023
Revolving Credit Facility	$	500	$	285
Term Loan A Facility	—		206
7.00% Senior Secured Second Lien Notes	629		627
5.75% Senior Notes	558		576
5.25% Senior Notes	444		451
0.25% Exchangeable Senior Notes	399		397
Total Short-Term & Long-Term Debt	$	2,530	$	2,542
Securitization Obligations:
Apple Ridge Funding LLC	$	148	$	115

Schedule of Debt

As of September 30, 2024, the Company’s borrowing arrangements were as follows:


	Interest Rate	Expiration Date	Principal Amount		Unamortized Premium and Debt Issuance Costs		Net Amount
Revolving Credit Facility (1)	(2)	July 2027 (3)	$	500	$ *		$	500

Senior Secured Second Lien Notes	7.00%	April 2030	640		11		629
Senior Notes (4)	5.75%	January 2029	558		—		558
Senior Notes (4)	5.25%	April 2030	449		5		444
Exchangeable Senior Notes	0.25%	June 2026	403		4		399
Total Short-Term & Long-Term Debt			$	2,550	$	20	$	2,530
Securitization obligations: (5)
Apple Ridge Funding LLC		May 2025	$	148	$ *		$	148

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*The debt issuance costs related to our Revolving Credit Facility and securitization obligations are classified as a deferred financing asset within other assets.

(1)As of September 30, 2024, the Company had $1,100 million of borrowing capacity under its Revolving Credit Facility. As of September 30, 2024, there were $500 million of outstanding borrowings under the Revolving Credit Facility and $33 million of outstanding undrawn letters of credit. On November 5, 2024, the Company had $555 million of outstanding borrowings under the Revolving Credit Facility and $33 million of outstanding undrawn letters of credit.

(2)The interest rate with respect to revolving loans under the Revolving Credit Facility at September 30, 2024 is based on, at the Company's option, Term Secured Overnight Financing Rate (" SOFR") plus a 10 basis point credit spread adjustment or JP Morgan Chase Bank, N.A.'s prime rate ("ABR") plus (in each case) an additional margin subject to adjustment based on the then current senior secured leverage ratio. Based on the previous quarter's senior secured leverage ratio, the SOFR margin was 1.75% and the ABR margin was 0.75% for the three months ended September 30, 2024.

(3)The maturity date of the Revolving Credit Facility is July 27, 2027; however, it may spring forward to March 16, 2026 if the 0.25% Exchangeable Senior Notes have not been extended, refinanced or replaced to have a maturity date after October 26, 2027 (or are not otherwise discharged, defeased or repaid by March 16, 2026).

(4)See below under the header "Repurchases of Unsecured Notes" for additional information with respect to repurchases in the third quarter of 2024.

(5)In May 2024, Anywhere Group extended the existing Apple Ridge Funding LLC securitization program until May 30, 2025. As of September 30, 2024, the Company had $200 million of borrowing capacity under the Apple Ridge Funding LLC securitization program with $148 million being utilized leaving $52 million of available capacity subject to maintaining sufficient relocation related assets to collateralize the securitization obligation. Certain of the funds that Anywhere Group receives from relocation receivables and related assets are required to be utilized to repay securitization obligations. These obligations are collateralized by $201 million and $146 million of underlying relocation receivables and other related relocation assets at September 30, 2024 and December 31, 2023, respectively. Substantially all relocation related assets are realized in less than twelve months from the transaction date. Accordingly, all of Anywhere Group's securitization obligations are classified as current in the accompanying Condensed Consolidated Balance Sheets. Interest incurred in connection with borrowings under the facility amounted to $3 million

and $4 million for the three months ended September 30, 2024 and 2023, respectively, as well as $7 million and $10 million for the nine months ended September 30, 2024 and 2023, respectively. This interest is recorded within net revenues in the accompanying Condensed Consolidated Statements of Operations as related borrowings are utilized to fund Anywhere Group's relocation operations where interest is generally earned on such assets. The securitization obligations represent floating rate debt for which the average weighted interest rate was 8.1% and 7.2% for the nine months ended September 30, 2024 and 2023, respectively.

Schedule of Maturities of Long-term Debt


Year	Amount
Remaining 2024 (a)	$	500
2025	—
2026	403
2027	—
2028	—

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(a)Outstanding borrowings under the Revolving Credit Facility expire in July 2027 (subject to earlier springing maturity) but are classified on the balance sheet as current due to the revolving nature of borrowings and terms and conditions of the facility.