secwatch.observer — SEC 8-K summary
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Issuer:     Cushman & Wakefield Ltd. (CWK)
CIK:        0001628369
Form:       8-K
Filed at:   2023-08-24T23:59:59+00:00
Accession:  0001193125-23-220171
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cushman & Wakefield closes $400M notes and $1B term loan to refinance 2025 debt
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1628369/000119312523220171/0001193125-23-220171-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1628369/000119312523220171/d460041d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-220171

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