CBRE Group, Inc. Announces Pricing of $500 Million Senior Notes Offering
20 Febrero 2024 - 3:25PM
Business Wire
CBRE Group, Inc. (NYSE:CBRE) (the “Company”) today announced the
pricing of the offering of $500 million in aggregate principal
amount of 5.500% Senior Notes due 2029 (the “Notes”). The Notes
will have an interest rate of 5.500% per annum and are being issued
at a price equal to 99.837% of their face value. The Company’s
wholly owned subsidiary, CBRE Services, Inc., will issue the Notes,
which are guaranteed on a full and unconditional basis by the
Company. The Notes are expected to settle on February 23, 2024,
subject to the satisfaction of customary closing conditions.
The Company estimates that the net proceeds from the offering
will be approximately $495 million, after deducting the
underwriters’ discounts and estimated offering expenses. The
Company intends to use the net proceeds to finance in part the
acquisition of J&J Worldwide Services.
Wells Fargo Securities, LLC, BofA Securities, Inc. and HSBC
Securities (USA) Inc. are acting as joint book-running managers for
the offering of the Notes.
The Notes are being offered pursuant to an effective shelf
registration statement that the Company previously filed with the
Securities and Exchange Commission (the “SEC”). The offering of the
Notes are being made only by means of a prospectus supplement and
accompanying base prospectus, which may be obtained for free by
visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively,
copies may be obtained by contacting Wells Fargo Securities, LLC
toll free at 1-800-645-3751, BofA Securities, Inc. toll free at
1-800-294-1322 or HSBC Securities (USA) Inc. toll free at
1-866-811-8049.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
Notes, in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500
company headquartered in Dallas, is the world’s largest commercial
real estate services and investment firm (based on 2023
revenue).
“Safe Harbor” Statement Under the Private Securities
Litigation Reform Act of 1995:
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements include, but are not
limited to, statements related to the offering of the Notes and the
anticipated use of proceeds therefrom. These forward-looking
statements involve known and unknown risks, uncertainties and other
factors discussed in CBRE Group, Inc.’s filings with the SEC. Any
forward-looking statements speak only as of the date of this press
release and, except to the extent required by applicable securities
laws, CBRE Group, Inc. expressly disclaims any obligation to update
or revise any of them to reflect actual results, any changes in
expectations or any change in events. If CBRE Group, Inc. does
update one or more forward-looking statements, no inference should
be drawn that it will make additional updates with respect to those
or other forward-looking statements. For additional information
concerning risks, uncertainties and other factors that may cause
actual results to differ from those anticipated in the
forward-looking statements, and risks to CBRE Group, Inc.’s
business in general, please refer to its SEC filings, including its
Annual Report on Form 10-K for the fiscal year ended December 31,
2023.
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version on businesswire.com: https://www.businesswire.com/news/home/20240220887685/en/
Brad Burke – Investors 214.863.3100
Brad.Burke@cbre.com
Steve Iaco - Media 212.984.6535
Steven.Iaco@cbre.com
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