8-K
filed February 23, 2024, 6:59 PM ET
ticker CBRE
CIK 0001138118
debt
confidence high
sentiment positive
materiality 0.55
CBRE GROUP, INC. (CBRE): debt financing — CBRE issues $500M 5.5% notes for J&J acquisition; appoints ex-Morgan Stanley banker to board
CBRE GROUP, INC.
- CBRE issued $500M of 5.500% Senior Notes due April 1, 2029; net proceeds to partially fund J&J Worldwide Services acquisition.
- Guy Metcalfe appointed to Board effective Feb. 26, 2024; he retired from Morgan Stanley as Global Chairman in Jan. 2024.
- Metcalfe spent over 30 years at Morgan Stanley, advising on more than $850B in real estate transactions.
- Notes are senior unsecured obligations of CBRE Services, fully and unconditionally guaranteed by CBRE.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
CBRE GROUP, INC. incurred senior notes of $500 million with Computershare Trust Company, National Association at 5.500% maturing April 1, 2029.
- Instrument
- senior notes
- Principal
- $500 million
- Counterparty
- Computershare Trust Company, National Association
- Rate
- 5.500%
- Maturity
- April 1, 2029
- Event
- incurrence
Exact text from the filing
issued $500 million in aggregate principal amount of 5.500% Senior Notes due 2029
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Guy A. Metcalfe was appointed as director at CBRE GROUP, INC..
- Action
- appointed
- Role
- director
Exact text from the filing
On February 21, 2024, the Board of Directors of the Company (the “Board”) appointed Guy A. Metcalfe to the Board, effective February 26, 2024, to serve until the Company’s 2024 annual meeting of stockholders.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
CBRE GROUP, INC. entered into Underwriting Agreement with Wells Fargo Securities, LLC, BofA Securities, Inc. and HSBC Securities (USA) Inc. (effective 2024-02-20).
- Action
- entry
- Agreement
- underwriting
- Counterparty
- Wells Fargo Securities, LLC, BofA Securities, Inc. and HSBC Securities (USA) Inc.
- Effective
- 2024-02-20
Exact text from the filing
underwriting agreement, dated as of February 20, 2024 (the “Underwriting Agreement”), among Services, the Company and Wells Fargo Securities, LLC, BofA Securities, Inc. and HSBC Securities (USA) Inc. on behalf of the several underwriters listed in Schedule A thereto
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
CBRE GROUP, INC. entered into Ninth Supplemental Indenture with Computershare Trust Company, National Association valued at $500 million (effective 2024-02-23).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- Computershare Trust Company, National Association
- Value
- $500 million
- Effective
- 2024-02-23
Exact text from the filing
The Notes are governed by an Indenture, dated as of March 14, 2013 (the “Base Indenture”), among Services, the Company, certain of Services’ subsidiaries and Computershare Trust Company, National Association, as successor to Wells Fargo Bank, National Association, as trustee (the “Trustee”), as amended and supplemented by the Ninth Supplemental Indenture entered into among Services, the Company and the Trustee on February 23, 2024 (the “Ninth Supplemental Indenture” and, together with the Base Indenture, the “Indenture”).
View on SEC.gov
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