As of 2:44 p.m. today, Realogy's $1.7 billion of 10.5 percent notes due in 2014 rose 8.6 cents to 80.75 cents on the dollar, according to Trace, a bond price reporting system of the Financial Industry Regulatory Authority. "The transaction, if it closes, will allow Realogy to pay down first-lien secured debt" said Emile Courtney, an analyst at Standard & Poor's. [Bloomberg] The Real Deal reserves the right to delete any comment it finds to be rude, obscene, racist, sexist, bigoted, irrelevant or repetitive, as well as inappropriate comments about anyone's personal appearance. Full Article at The Real Deal: New York