Company: HOUS
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001398987-25-000108
Chunk: 97

Company: Anywhere Real Estate Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 97
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idity and Capital Resources

Cash flows from operations, supplemented by funds available under our Revolving Credit Facility and Apple Ridge securitization facility are our primary sources of liquidity, along with, from time to time, distributions from our unconsolidated joint ventures. 

Our primary uses of liquidity include working capital, business investment and capital expenditures, as well as debt service (including interest payments). We have used and may also use future cash flows to repurchase or redeem outstanding indebtedness and to acquire stock under our share repurchase program.

Business investments may include investments in strategic initiatives, including our existing or future joint ventures, products and services that are designed to simplify the home sale and purchase transaction, independent sales agent recruitment and retention, and franchisee system growth and acquisitions.

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We believe that we will continue to meet our cash flow needs during the next twelve months through the sources outlined above. In the event that our liquidity assumptions change, or we seek to provide incremental liquidity, we may explore additional debt financing, debt exchanges, private or public offerings of debt or common stock or consider asset disposals.

From time to time, we seek to repay, refinance or restructure all or a portion of our debt or to repurchase our outstanding debt through, as applicable, tender offers, exchange offers, open market purchases, privately negotiated transactions or otherwise. Such transactions, if any, will depend on a number of factors, including prevailing market conditions, our liquidity requirements and contractual requirements (including compliance with the terms of our debt agreements), among other factors.

During the second quarter of 2025, Anywhere Group and the Co-Issuer issued $500 million of 9.75% Senior Secured Second Lien Notes. We used net proceeds from the issuance of the 9.75% Senior Secured Second Lien Notes to repurchase $345 million of the Exchangeable Senior Notes for an aggregate cash payment of $339 million and used the remaining net proceeds to repay a portion of outstanding borrowings under the Revolving Credit Facility in July 2025.

Following the repurchase, approximately $58 million in aggregate principal amount of the Exchangeable Senior Notes remains outstanding and will mature on June 15, 2026. The maturity date of the Revolving Credit Facility is July 27, 2027; however, the maturity date will spring forward to March 16, 2026 if the outstanding Exchangeable Senior Notes have not been repurchased by March 16, 2026, unless all lenders under the Revolving Credit