Newmark enters $420M delayed draw term loan to repay $550M Senior Notes due Nov 2023

NEWMARK GROUP, INC.

Delayed Draw Term Loan of $420M (upsizable to $550M) matures Nov 15, 2026; initial all-in rate ~7.9% (SOFR + 2.625%).
Proceeds will repay $550M 6.125% Senior Notes due November 15, 2023.
Company expects $300-350M cash from operations this year and has $600M revolver maturing March 2025.
CFO Rispoli: combined capital sufficient to refinance Senior Notes and invest in business.
BofA Securities acted as lead arranger; Citizens, Fifth Third, PNC, Regions, U.S. Bank, Wells Fargo as joint lead arrangers.

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