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DALLAS, April 29, 2025--(BUSINESS WIRE)--CBRE Group, Inc. (NYSE:CBRE) (the "Company") today announced the pricing of the offering of $600 million aggregate principal amount of 4.800% Senior Notes due 2030 (the "2030 Notes") and $500 million aggregate principal amount of 5.500% Senior Notes due 2035 (the "2035 Notes" and, together with the 2030 Notes, the "Notes"). The 2030 Notes will have an interest rate of 4.800% per annum and are being issued at a price equal to 99.065% of their face value. The 2035 Notes will have an interest rate of 5.500% per annum and are being issued at a price equal to 99.549% of their face value. The Company’s wholly owned subsidiary, CBRE Services, Inc. ("Services"), will issue each series of Notes, which are guaranteed on a full and unconditional basis by the Company. Each series of Notes is expected to settle on May 12, 2025, subject to the satisfaction of customary closing conditions.
The Company estimates that the net proceeds from the offering will be approximately $1,082.9 million, after deducting the underwriters’ discounts and estimated offering expenses. The Company intends to use the net proceeds to redeem Services’ 4.875% senior notes due 2026, to repay borrowings under the Company’s commercial paper program and for other general corporate purposes.
Wells Fargo Securities, LLC, BofA Securities, Inc., J.P. Morgan Securities LLC and NatWest Markets Securities Inc. are acting as joint book-running managers for the offering of the Notes.
The Notes are being offered pursuant to an effective shelf registration statement that the Company previously filed with the Securities and Exchange Commission (the "SEC"). The offering of the Notes is being made only by means of a prospectus supplement and accompanying base prospectus, which may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies may be obtained by contacting Wells Fargo Securities, LLC toll free at 1-800-645-3751, BofA Securities, Inc. toll free at 1-800-294-1322, J.P. Morgan Securities LLC (collect) at 1-212-834-4533 or NatWest Markets Securities Inc. toll free at 1-800-231-5380.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
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 2024 revenue).