CBRE Group, Inc. Announces Completion of Offering of $800 Million of 5.00%
Senior Unsecured Notes Due 2023
LOS ANGELES -- March 14, 2013
CBRE Group, Inc. (NYSE:CBG) today announced the completion of the offering of
$800 million in aggregate principal amount of 5.00% Senior Notes due 2023 (the
“Notes”). The Notes have an interest rate of 5.00% per annum and were issued
at a price equal to 100% of their face value. The Notes were issued by the
Company’s wholly-owned subsidiary, CBRE Services, Inc., and guaranteed by the
Company and its subsidiaries that guarantee its senior secured credit
facility, on a full and unconditional basis.
The Company estimates that the net proceeds from the offering will be
approximately $785.2 million, after deducting the underwriters’ discounts and
estimated offering expenses. The Company intends to use the net proceeds from
such offering of the Notes to repay a portion of its outstanding indebtedness
under its senior secured credit facilities.
BofA Merrill Lynch, J.P. Morgan, Credit Suisse, Wells Fargo Securities, HSBC,
Scotiabank, Barclays Capital and RBS acted as joint book-running managers for
the offering of the Notes. The offering of the Notes was made only by means of
a prospectus supplement and accompanying base prospectus, which may be
obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov.
Alternatively, copies may be obtained from: BofA Merrill Lynch, 222 Broadway,
11th Floor, New York, NY 10038, Attention: Prospectus Department, or email:
This press release shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of the Notes, in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such
“Safe Harbor” Statement Under the Private Securities Litigation Reform Act of
1995: This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These forward-looking
statements include, but are not limited to, statements related to the offering
of the Notes and the anticipated use of proceeds therefrom. These
forward-looking statements involve known and unknown risks, uncertainties and
other factors discussed in the Company’s filings with the Securities and
Exchange Commission (the “SEC”). Any forward-looking statements speak only as
of the date of the press releases and, except to the extent required by
applicable securities laws, the Company expressly disclaims any obligation to
update or revise any of them to reflect actual results, any changes in
expectations or any change in events. If the Company does update one or more
forward-looking statements, no inference should be drawn that it will make
additional updates with respect to those or other forward-looking statements.
For additional information concerning risks, uncertainties and other factors
that may cause actual results to differ from those anticipated in the
forward-looking statements, and risks to the Company’s business in general,
please refer to the Company’s SEC filings, including its Annual Report on Form
10-K for the fiscal year ended December 31, 2012.
CBRE Group, Inc.
Chief Financial Officer
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