CoStar seeks to amend $750 million credit facility, repay borrowings

By Rebecca Melvin

New York, June 24 – CoStar Group Inc. said it is seeking to extend the maturity of its $750 million credit facility to 2025, release existing security interests, make changes to certain covenants and revise pricing, according to a company news release.

The changes are part of an amendment and restatement of the facility that the company is seeking.

The company also intends to use proceeds from a new offering of notes to repay outstanding borrowings under the credit facility.

The proceeds from the notes will also be used to fund all or a portion of the costs of any strategic acquisitions it determines to pursue in the future, and for working capital and other general corporate purposes.

CoStar is a Washington, D.C.-based provider of commercial real estate information, analytics and marketplaces.

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