CBRE increases revolvers by an aggregate $350 million

Chicago, July 13 – CBRE Group, Inc. entered into an incremental assumption agreement regarding its credit agreement from Oct. 31, 2017 with Credit Suisse AG as administrative agent to increase the revolving credit commitments, according to an 8-K filing with the Securities and Exchange Commission.

The agreement, entered into on Friday, increases the revolving credit commitments by a total of $350 million. The additional amount increases the domestic revolving commitments by $330 million, bringing that credit agreement to $2.63 billion. It also increases the U.K. revolving commitments by $20 million, bringing that revolver to $320 million in total.

The increased commitments are subject to the same terms, in terms of rates, fees, guarantees, mandatory prepayments and covenants, of the original revolving credit facility agreement.

On the domestic revolver, Goldman Sachs Bank USA and Morgan Stanley Bank, NA provided the increased amounts.

Goldman Sachs provided the amount for the U.K. revolver.

CBRE is a Los Angeles-based commercial real estate services and investment firm.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.