Loan & DebtJun 23, 2026, 05:12 PM
CBRE Group secures new $1 billion revolving credit facility
AI Summary
CBRE Group, Inc. announced it has entered into a new $1 billion 364-day senior unsecured Revolving Credit Agreement, effective June 23, 2026. This new facility, with Wells Fargo Bank as the administrative agent, replaces the company's previous credit agreement which was scheduled to expire on the same date. The agreement provides for a revolving credit facility for CBRE Services, Inc. and includes terms for interest rates, facility fees, and a financial covenant related to the company's leverage ratio.
Key Highlights
- CBRE Group entered into a new $1 billion 364-day senior unsecured Revolving Credit Agreement.
- The facility replaces a previous agreement that was set to terminate on June 23, 2026.
- Wells Fargo Bank, National Association, serves as the administrative agent.
- Loans will bear interest at Term SOFR plus a spread between 0.645% and 1.125%, or a base rate.
- A facility fee between 0.055% and 0.125% is payable, based on the company's credit rating.
- The entire principal amount is due and payable at maturity on June 22, 2027.
- The agreement includes a financial covenant requiring maintenance of a specified maximum leverage ratio.
Price Impact
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