Cushman & Wakefield (CWK) amended its credit agreement, upsizing a term loan tranche by $353 million to $1.2 billion, the company said late Monday.
The amendment cuts pricing by 50 basis points to term secured overnight financing rate plus 2.25% and extends maturity to 2033, the company said.
Proceeds were used to partially redeem $350 million of its 6.75% senior secured notes due 2028 at par, leaving $200 million of those notes outstanding and overall gross debt unchanged, according to the company.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments