Company Website:
http://www.cbre.com
LOS ANGELES -- (Business Wire)
CBRE Group, Inc. (NYSE:CBG) today announced the pricing of its offering
of $300 million in aggregate principal amount of 5.25% senior notes due
2025 (the “Notes”). The Notes will have an interest rate of 5.25% per
annum and are being issued at a price equal to 100% of their face value.
The Notes will be issued by the Company’s wholly-owned subsidiary, CBRE
Services, Inc., and guaranteed on a full and unconditional basis by the
Company and the subsidiaries that guarantee its senior secured credit
facility.
The Company estimates that the net proceeds from the offering will be
approximately $296.5 million, after deducting the underwriters’
discounts and estimated offering expenses. The Company intends to use
the net proceeds from such offering of the Notes, together with cash on
hand, to redeem CBRE Services, Inc.’s outstanding 6.625% Senior Notes
due 2020.
J.P. Morgan, Credit Suisse, BofA Merrill Lynch, HSBC, Wells Fargo
Securities, Scotiabank, RBS and Barclays 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 will be 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 from: J.P. Morgan Securities LLC,
c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, or by calling 1-866-803-9204.
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.
CBRE Group, Inc. is a leading global commercial real estate services and
investment firm based in Los Angeles.
“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 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, 2013, and its quarterly report on Form 10-Q for the
quarterly period ended June 30, 2014.
Contacts:
CBRE Group, Inc.
Jim Groch, 215-921-7474
Chief Financial
Officer and Global Director of Corporate Development
or
Steve
Iaco, 212-984-6535
Senior Managing Director
Investor Relations
& Corporate Communications
Source: CBRE Group, Inc.
© 2024 Canjex Publishing Ltd. All rights reserved.