CBRE Group Inc (CBRE) has released an update.
CBRE Services, Inc., a subsidiary of the Company, has issued $500 million in 5.500% Senior Notes due in 2029, with the proceeds aimed to partially fund the acquisition of J&J Worldwide Services. These notes, which are senior unsecured obligations and rank equally with other senior debt, will be unconditionally guaranteed by the Company and certain subsidiaries. The notes will pay semi-annual interest and are subject to covenants limiting certain actions by Services and its subsidiaries. Additionally, Guy A. Metcalfe was appointed to the Company’s Board of Directors and will serve on key committees, with his independence confirmed under NYSE and SEC guidelines.
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