CBRE Group (CBRE) said Tuesday that it has priced its offering of $600 million aggregate principal amount of 4.8% senior notes due 2030 and $500 million of 5.5% senior notes due 2035.
The 2030 notes will be issued at about 99.065% of their face value and the 2035 notes at about 99.549% of their face value, said the company. CBRE Group's CBRE Services unit will issue the notes, with the parent company to guarantee the notes on a full and unconditional basis, according to the statement.
CBRE Group estimates net proceeds of about $1.08 billion from the offering and said the funds will be used to redeem CBRE Services' 4.875% senior notes due 2026, to repay borrowings under its commercial paper program, and for other general corporate purposes.
Price: 120.33, Change: -1.03, Percent Change: -0.85
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