Business & Finance
Business and Finance
Business and Finance
Tue, October 18, 2011 CBRE Group, Inc. Announces Plans for US$250 Million Equivalent Senior Secured Sterling Term Loan A-1 Facility
LOS ANGELES--([ BUSINESS WIRE ])--CBRE Group, Inc. (NYSE:CBG) today announced that it intends to establish a new incremental senior secured sterling term loan A-1 facility in the amount of approximately US$250 million (based on current exchange rates at the time of closing). The new facility will be offered to the Companya™s existing bank syndicate and will be on terms substantially similar to the Companya™s existing term loan A facility. The new facility, which will mature in May 2016, enables the Company to capitalize on the current low interest rate environment, and enhance its overall financial flexibility.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the worlda™s largest commercial real estate services firm (in terms of 2010 revenue). The Company has approximately 31,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at [ www.cbre.com ].
aSafe Harbora 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 proposed term loan A-1 facility 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.a™s filings with the Securities and Exchange Commission (the aSECa). 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.a™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, 2010 and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2011.
