CBRE Group, Inc. Increases and Extends Revolving Credit Facility
DALLAS--(BUSINESS WIRE)-- CBRE Group, Inc. (NYSE:CBRE) today announced that it has entered into a new five-year revolving credit agreement that increases its revolving credit facility to $3.5 billion from $3.15 billion.
The facility includes incentives linked to achieving certain sustainability goals, including increasing 1) CBRE offices over 10,000 square feet that achieve sustainability certificates, 2) procurement spending with sustainable suppliers and 3) the North American vehicle fleet converted to electric vehicles.
“The new facility enhances our capacity and flexibility to invest in CBRE’s growth while advancing our environmental, social and governance goals,” said Emma Giamartino, the company’s chief financial and investment officer. “We appreciate this continued vote of confidence from our lenders in our people, platform and strategy.”
The Joint Lead Arrangers and Joint Bookrunners for the transaction were Wells Fargo Securities, LLC, BofA Securities Inc, The Bank of Nova Scotia, HSBC Bank USA, National Association, JPMorgan Chase Bank, N.A. and National Westminster Bank PLC.
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 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com. We routinely post important information on our website, including corporate and investor presentations and financial information. We intend to use our website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Such disclosures will be included in the Investor Relations section of our website at https://ir.cbre.com. Accordingly, investors should monitor such portion of our website, in addition to following our press releases, Securities and Exchange Commission filings and public conference calls and webcasts.
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Source: CBRE Group, Inc.
Released August 8, 2022