debt
confidence high
sentiment neutral
materiality 0.45
Newmark enters $600M unsecured revolving credit facility maturing April 2027
NEWMARK GROUP, INC.
- Second Amended and Restated Credit Agreement upsized to $600M (can increase to $800M) with maturity extended to April 26, 2027.
- Borrowings bear interest at Term SOFR plus 1.00%-2.125% or Base Rate plus 0.00%-1.125%, depending on credit ratings.
- Financial covenants include minimum interest coverage and maximum leverage ratios, consistent with prior agreement.
- Proceeds to be used for general corporate purposes; facility unsecured and senior.