CWK - Cushman & Wakefield prices $400M senior secured notes offering
2023-08-10 17:20:28 ET
- Real estate services firm Cushman & Wakefield ( NYSE: CWK ) Thursday said its unit priced a previously announced offering and will now issue $400M of 8.875% senior secured notes due 2031, instead of the $500M announced earlier.
- Further tweaking, the company added that it expected to enter a new term loan facility agreement for $1B, up from the "originally contemplated" $700M.
- Cushman & Wakefield U.S. Borrower intends to use the proceeds to refinance $1.4B of existing indebtedness outstanding, said the parent company.
- Refinancing under the unit's $1.59B Senior Secured Term Loan maturing August 21, 2025.
- CWK -0.5% after hours to $9.95
- Source: Press Release
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Cushman & Wakefield prices $400M senior secured notes offering