CBRE Group prices $1B senior notes offering due 2032 and 2037
- CBRE Group (CBRE) has priced a $1 billion senior notes offering, comprising $500 million in notes due 2032 with a 5.65% interest rate and another $500 million in notes due 2037 carrying a 5.90% rate.
- The 2032 notes will have an interest rate of 5.650% each year and are being issued at a price equal to 99.424% of their face value. The 2037 notes will have an interest rate of 5.900% each year and are being issued at a price equal to 97.872% of their face value.
- The company’s wholly owned subsidiary, CBRE Services, Inc., will issue each series of notes, which will be guaranteed on a full and unconditional basis by the company. Each series of notes is expected to settle on November 5.
- CBRE Group (CBRE) estimates that the net proceeds from the offering will be approximately $980.2 million, after deducting the underwriters’ discount, but before estimated offering expenses.
- Press release
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