CBRE Prices $1B Senior Notes Offering, Plans Debt Reduction From Proceeds
Portfolio Pulse from Lekha Gupta
CBRE Group has priced a $1 billion senior notes offering due in 2034 at 98.174% of face value with a 5.950% interest rate. The company expects to settle the note on June 23, 2023, and plans to use the proceeds for debt repayments and other corporate purposes.
June 21, 2023 | 9:45 am
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CBRE Group prices $1 billion senior notes offering at 98.174% of face value, with a 5.950% interest rate, to be used for debt repayments and corporate purposes.
The pricing of the senior notes offering will help CBRE reduce its outstanding debt and fund other corporate purposes. However, the short-term impact on the stock price is neutral as the market has already reacted to the news, with shares closing lower by 1.12% at $76.94 on Tuesday.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100