NEW
YORK, Jan. 5, 2024 /PRNewswire/ -- Newmark
Group, Inc. (Nasdaq: NMRK) ("Newmark" or the "Company"), today
announced the pricing of its offering of $600.0 million aggregate principal amount of its
7.500% senior notes (the "notes").
The notes will be general senior unsecured obligations of
Newmark. The notes will pay interest semi-annually at a rate of
7.50% per annum, on each January 12
and July 12, beginning on
July 12, 2024, and will mature on
January 12, 2029. The closing,
subject to customary conditions, is expected to occur on
January 12, 2024. Newmark intends to
use the net proceeds to repay all or a portion of the $420.0 million outstanding under its term loan.
Any additional net proceeds will be used to repay outstanding
revolving debt, including with respect to the borrowings under the
Company's credit agreement with Cantor Fitzgerald, L.P., and for
general corporate purposes.
The notes were offered and sold in a private offering exempt
from the registration requirements under the Securities Act of
1933, as amended (the "Securities Act"). The notes have not been
registered under the Securities Act or the securities laws of any
other jurisdiction and may not be offered or sold in the United States absent registration or an
applicable exemption from registration. This notice is issued
pursuant to Rule 135c under the Securities Act, and does not
constitute an offer to sell nor a solicitation of an offer to buy
any of these securities and shall not constitute an offer,
solicitation or sale in any jurisdiction in which such offer,
solicitation or sale is unlawful.
DISCUSSION OF FORWARD-LOOKING STATEMENTS ABOUT
NEWMARK
Statements in this document regarding Newmark that
are not historical facts are "forward-looking statements" that
involve risks and uncertainties, which could cause actual results
to differ from those contained in the forward-looking statements.
These include statements about the Company's business, results,
financial position, liquidity, and outlook, which may constitute
forward-looking statements and are subject to the risk that the
actual impact may differ, possibly materially, from what is
currently expected. Except as required by law, Newmark undertakes
no obligation to update any forward-looking statements. For a
discussion of additional risks and uncertainties, which could cause
actual results to differ from those contained in the
forward-looking statements, see Newmark's Securities and Exchange
Commission filings, including, but not limited to, the risk factors
and Special Note on Forward-Looking Information set forth in these
filings and any updates to such risk factors and Special Note on
Forward-Looking Information contained in subsequent reports on Form
10-K, Form 10-Q or Form 8-K.
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SOURCE Newmark Group, Inc.