{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-220171","form_type":"8-K","ticker":"CWK","cik":"0001628369","company_name":"Cushman & Wakefield Ltd.","filed_at":"2023-08-24T23:59:59+00:00","discovered_at":"2026-05-14T18:03:34.610903+00:00","generated_at":"2026-06-11T04:12:37.281170+00:00","sec_items":["1.01","2.03","8.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Cushman & Wakefield closes $400M notes and $1B term loan to refinance 2025 debt","bullets":["Issued $400M of 8.875% senior secured notes due 2031; closed $1B term loan at Term SOFR+4.00% (0.50% floor).","Proceeds refinanced $1.4B of existing $1.593B senior secured term loan due August 2025.","Remaining $193M of existing term loan expected to be repaid with cash on hand.","Blended annual interest rate on total debt approximately 8%; liquidity ~$1.6B as of June 30, 2023."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-220171","json":"https://secwatch.observer/filing/0001193125-23-220171.json","markdown":"https://secwatch.observer/filing/0001193125-23-220171.md","text":"https://secwatch.observer/filing/0001193125-23-220171.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1628369/000119312523220171/0001193125-23-220171-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1628369/000119312523220171/d460041d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-11T04:12:37.281170+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"7b644b247b2ff7c62403a595e151c8f60c70a416","claim":"Cushman & Wakefield Ltd. incurred senior notes of $400 million with Wilmington Trust, National Association at 8.875% maturing September 1, 2031.","evidence_excerpt":"On August 24, 2023, Cushman & Wakefield U.S. Borrower, LLC (the \"Company\"), an indirect wholly owned subsidiary of Cushman & Wakefield plc (\"Cushman & Wakefield\"), closed its previously announced offering of $400 million in aggregate principal amount of its 8.875% senior secured notes due 2031 (the \"Notes\").","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1628369/000119312523220171/0001193125-23-220171-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$400 million"},{"label":"Counterparty","value":"Wilmington Trust, National Association"},{"label":"Rate","value":"8.875%"},{"label":"Maturity","value":"September 1, 2031"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"abcf1550b467a39b65d22360911b7a00d8052d69","claim":"Cushman & Wakefield Ltd. entered into Indenture for 8.875% Senior Secured Notes due 2031 with Wilmington Trust, National Association valued at $400,000,000 aggregate principal amount at 8.875% interest due 2031 (effective 2023-08-24).","evidence_excerpt":"Item 1.01. Entry into a Material Definitive Agreement. Senior Secured Notes Offering On August 24, 2023, Cushman & Wakefield U.S. Borrower, LLC (the “Company”), an indirect wholly owned subsidiary of Cushman & Wakefield plc (“Cushman & Wakefield”), closed its previously announced offering of $400 million in aggregate principal amount of its 8.875% senior secured notes due 2031 (the “Notes”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1628369/000119312523220171/0001193125-23-220171-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"Wilmington Trust, National Association"},{"label":"Value","value":"$400,000,000 aggregate principal amount at 8.875% interest due 2031"},{"label":"Effective","value":"2023-08-24"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}