M
ME NEWS
25 Jun 2025, 08:38
CBRE Group Secures $4.5 Billion in New Credit Facilities, Retires Existing Revolver
CBRE Group has entered into two new senior unsecured credit agreements totaling $4.5 billion to enhance financial flexibility. The new arrangements consist of a 5-year revolving credit facility worth $3.5 billion and a 364-day revolving credit facility of $1 billion, both led by Wells Fargo Bank as administrative agent.
The 5-year facility replaces a previous credit line dated August 2022 and includes expanded capacity for letters of credit and swingline loans, each capped at $300 million. The agreement ties interest rates and facility fees to CBRE’s credit ratings, with top-tier borrowers receiving as low as 0.63% over Term SOFR and a facility fee of 0.07%.
The 364-day agreement, which mirrors the terms of the longer facility, provides similar flexibility with slightly adjusted pricing terms. Both agreements include standard prepayment provisions and permit voluntary repayment without penalties.
Additionally, CBRE amended its 2023 term loan agreement by eliminating the interest coverage ratio covenant and aligning other financial terms with the new credit lines.
Following execution of the new 5-year facility, CBRE terminated its existing credit agreement and paid $661,639.40 to settle outstanding obligations.
CBRE Group has entered into two new senior unsecured credit agreements totaling $4.5 billion to enhance financial flexibility. The new arrangements consist of a 5-year revolving credit facility worth $3.5 billion and a 364-day revolving credit facility of $1 billion, both led by Wells Fargo Bank as administrative agent.
The 5-year facility replaces a previous credit line dated August 2022 and includes expanded capacity for letters of credit and swingline loans, each capped at $300 million. The agreement ties interest rates and facility fees to CBRE’s credit ratings, with top-tier borrowers receiving as low as 0.63% over Term SOFR and a facility fee of 0.07%.
The 364-day agreement, which mirrors the terms of the longer facility, provides similar flexibility with slightly adjusted pricing terms. Both agreements include standard prepayment provisions and permit voluntary repayment without penalties.
Additionally, CBRE amended its 2023 term loan agreement by eliminating the interest coverage ratio covenant and aligning other financial terms with the new credit lines.
Following execution of the new 5-year facility, CBRE terminated its existing credit agreement and paid $661,639.40 to settle outstanding obligations.