Simpson Thacher represented the initial purchasers in connection with the Rule 144A/Regulation S offering by Anywhere Real Estate Group LLC (the “Issuer”) and Anywhere Co-Issuer Corp. (the “Co-Issuer”) of $500 million aggregate principal amount of 9.750% Senior Secured Second Lien Notes due 2030 (the “Notes”).
The Notes are guaranteed on an unsecured senior subordinated basis by Anywhere Real Estate Inc. (“Anywhere”), and on a senior secured second priority lien basis by Anywhere Intermediate Holdings LLC and each of the Issuer’s existing and future U.S. direct or indirect restricted subsidiaries (other than the Co-Issuer) that is a guarantor under its revolving credit facility and certain of its outstanding securities or that incurs or guarantees certain other indebtedness in the future, subject to certain exceptions.
Anywhere intends to use the net proceeds from the offering to repurchase Anywhere’s 0.25% exchangeable senior notes due 2026 and the remaining net proceeds to repay a portion of its outstanding borrowings under its revolving credit facility.
Anywhere is moving real estate to what’s next. Anywhere fulfills its purpose to empower everyone’s next move through our leading integrated services, which include franchise, brokerage, relocation, and title and settlement businesses, as well as mortgage and title insurance underwriter minority owned joint ventures.
The Simpson Thacher team for the transaction included, among others, David Azarkh, Marisa Stavenas, John O’Connell, Evan Zuckerman, Emily Anne Owen, Charlotte Cao and Sebastian Edin (Capital Markets); Bill Sheehan, Callie Robins and Mark Marzziotti (Banking & Credit); Jon Pall (Collateral); Michael Mann and Kris Liu (Tax); Courtney Welshimer, Corina Holland, Matt Richardson and Christina Breitbeil (Intellectual Property); Jeanne Annarumma and Sara Mazurek (Executive Compensation and Employee Benefits); Steven DeLott (Insurance); Michael Isby (Environmental); Tim Gallagher (Real Estate); and Jennie Getsin (Blue Sky).