CBRE Group, Inc. (NYSE:CBG) today announced the completion of the offering of $800 million in aggregate principal amount of 5.00% Senior Notes due 2023 (the “Notes”). The Notes have an interest rate of 5.00% per annum and were issued at a price equal to 100% of their face value. The Notes were issued by the Company’s wholly-owned subsidiary, CBRE Services, Inc., and guaranteed by the Company and its subsidiaries that guarantee its senior secured credit facility, on a full and unconditional basis.
The Company estimates that the net proceeds from the offering will be approximately $785.2 million, after deducting the underwriters’ discounts and estimated offering expenses. The Company intends to use the net proceeds from such offering of the Notes to repay a portion of its outstanding indebtedness under its senior secured credit facilities.
BofA Merrill Lynch, J.P. Morgan, Credit Suisse, Wells Fargo Securities, HSBC, Scotiabank, Barclays Capital and RBS acted as joint book-running managers for the offering of the Notes. The offering of the Notes was 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
. Alternatively, copies may be obtained from: BofA Merrill Lynch, 222 Broadway, 11th Floor, New York, NY 10038, Attention: Prospectus Department, or email:
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.
“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 the Company’s filings with the Securities and Exchange Commission (the “SEC”). Any forward-looking statements speak only as of the date of the press releases and, except to the extent required by applicable securities laws, the Company 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 the Company 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 the Company’s business in general, please refer to the Company’s SEC filings, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2012.