Mr. Christian Mayer reports
COLLIERS EXTENDS MATURITY AND ENHANCES FLEXIBILITY OF ITS US$2.25 BILLION CREDIT FACILITY
Colliers International Group Inc. has amended its revolving credit facility. The amended agreement extends the maturity to February, 2031, providing significant long-term financial flexibility.
The amended agreement maintains the total credit facility at $2.25-billion (U.S.) and now includes a $250-million (U.S.) accordion feature. The updated terms provide enhanced flexibility to support Colliers' continuing acquisition strategy and internal growth initiatives. The facility's sustainability-linked pricing metrics were also extended, reinforcing the company's commitment to its sustainability goals.
"This successful extension and amendment of our credit facility underscores the strength of our balance sheet and the confidence of our long-standing banking partners in our global diversified platform and disciplined growth strategy," said Michael Harding, vice-president, finance and treasurer, of Colliers. "The enhanced flexibility within the facility will allow us to continue our expansion into high-quality, recurring professional services through our enterprising acquisition program, a key driver of our long-term success."
The credit facility is led by Bank of Montreal and syndicated to 13 major Canadian, United States and international banks. The credit facility ranks pari passu with Colliers' existing privately placed fixed rate senior notes.
About Colliers
International Group Inc.
Colliers is a global diversified professional services and investment management company operating through three leading industry businesses: commercial real estate, engineering and investment management. With greater than a 30-year record of consistent growth and strong recurring cash flows, the company scales complementary, high-value businesses that provide essential services across the full asset life cycle.
The company's unique partnership philosophy empowers exceptional leaders, preserves its entrepreneurial culture and ensures meaningful inside ownership -- driving strong alignment and sustained value creation for the company's shareholders.
With $5.6-billion in annual revenues, 24,000 professionals and $108-billion in assets under management, Colliers is committed to accelerating the success of its clients, investors and people worldwide.
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