secwatch.observer — SEC 8-K summary
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Issuer:     NEWMARK GROUP, INC. (NMRK)
CIK:        0001690680
Form:       8-K
Filed at:   2023-08-15T23:59:59+00:00
Accession:  0001193125-23-213085
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 8.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1690680/000119312523213085/0001193125-23-213085-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1690680/000119312523213085/d541428d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-213085

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