CBRE Group, Inc. (CBRE), a commercial real estate services and investments company, on Tuesday announced the pricing of $600 million aggregate principal offering of 4.800% Senior Notes due 2030 and $500 million of 5.500% Senior Notes due 2035. Both series of notes are expected to be finalized on May 12.
The company expects to raise net proceeds of about $1.082 billion from the offering.
The funds are expected to redeem existing 4.875% Senior Notes due in 2026, and will be used to repay borrowings under its commercial paper program, and for other general corporate purposes.
The 2030 notes will carry an annual interest rate of 4.800% and are being sold at 99.065% of their face value. The 2035 notes will have an annual interest rate of 5.500% and are being issued at 99.549% of their face value.
In the pre-market trading, CBRE is 0.21% lesser at $121.11 on the New York Stock Exchange.
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