Newmark amends Cantor credit agreement; borrows $130M at 6.71% to repay bank facility

NEWMARK GROUP, INC.

First Amendment allows Newmark to borrow up to $150M from Cantor at RCF rate minus 25 bps until Apr 15, 2024.
Newmark draws $130M on Dec 20, 2023, closing Dec 22, to repay the $130M balance under the $600M Credit Facility.
Consent from DDTL lenders allows Cantor debt without triggering mandatory prepayment.
As of Dec 20, total senior debt $550M ($420M term loan under DDTL + $130M drawn under Credit Facility).
Cantor may demand repayment of Newmark Revolving Loans on 3 business days’ notice.

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