Colliers International expands credit facility to $2.25B

Colliers International (CIGI) Group announced the expansion and extension of its unsecured multi-currency revolving credit facility for a new five-year term, maturing November 2029. The updated Credit Facility replaces the previous agreement which was set to mature in May 2027 and increases borrowing capacity to $2.25 billion from $1.75 billion. With this expansion, Colliers has over $1 billion of capacity to invest in new growth initiatives. Financial covenants and other key terms remain unchanged. The transaction was led by Bank of Montreal and was syndicated to 12 additional banks including JP Morgan Chase Bank, U.S. Bank, Mizuho Bank, Bank of America, HSBC Bank, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Toronto-Dominion Bank, Royal Bank of Canada, National Bank of Canada, Wells Fargo Bank and Desjardins. The Credit Facility ranks pari passu with Colliers’ existing privately placed fixed rate senior notes maturing in 2028 and 2031.