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CBRE GROUP, INC. 8-K Report, Material Agreement (Jun 30, 2006)

Reports
Material Agreements·Exhibits & Filings
Filing Date
Filed June 30, 2006
Period End
June 26, 2006
Security
CBRE
In the record · 2016–202610-K1110-Q328-K149

CBRE filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 149 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Mar ’17Mar ’17
  2. Leadership change8-K · Apr ’19Apr ’19
  3. Material agreement8-K · Jul ’21Jul ’21
  4. Leadership change8-K · Aug ’25Aug ’25

01—Abstract

Summary

Summary of the 8-K filed June 30, 2006. Cited figures are marked; the original filing is the authoritative source.

CB Richard Ellis Group, Inc. (CBRE) filed an 8-K on June 30, 2006, detailing a significant update to its financing structure.

The company entered into a new $600 milliona, five-year senior secured revolving credit facility on June 26, 2006, replacing its previous credit agreement from April 2004. This new facility provides substantial liquidity for ongoing working capital and general corporate purposes. This move signifies a strengthening of CBRE's financial flexibility and its ability to support its operational needs.

The new credit facility includes a broad range of global subsidiaries as borrowers and offers flexibility in various currencies, indicating the company's international operational scope. The secured nature of the facility, backed by pledged stock of certain subsidiaries, suggests a strategic approach to leverage its assets for enhanced financial capacity.

02—Key points

Key Highlights

  1. CBRE entered into a new $600 million, five-year senior secured revolving credit facility on June 26, 2006.
  2. The new credit facility replaces an existing agreement dated April 23, 2004.
  3. The facility provides funding for ongoing working capital and general corporate purposes.
  4. Borrowers include CB Richard Ellis Services, Inc. and its international subsidiaries, with sub-facilities in various currencies (USD, CAD, AUD, NZD, JPY, GBP, EUR).
  5. The credit facility is secured by a pledge of 100% of the capital stock of certain domestic subsidiaries and 65% of certain first-tier foreign subsidiaries.
  6. The agreement includes customary covenants and events of default that could lead to termination of commitments and acceleration of debt.
  7. The company terminated its previous credit agreement and related guarantee and collateral agreement in conjunction with entering the new facility.

03—Questions

Frequently Asked Questions

  1. What is the main purpose of this 8-K filing?

    The main purpose of this 8-K filing is to report CB Richard Ellis Group, Inc.'s entry into a new, larger $600 million senior secured revolving credit facility and the termination of its previous credit agreement.

  2. How does the new credit facility benefit CBRE?

    The new $600 million credit facility enhances CBRE's financial flexibility by providing significant capital for working capital and general corporate purposes. It also supports the company's international operations with multi-currency borrowing capabilities.

  3. What are the key terms of the new credit facility?

    The new facility is a $600 million, five-year senior secured revolving credit facility. It is secured by pledges of capital stock from certain domestic and foreign subsidiaries and includes standard covenants and default provisions.

  4. Why did CBRE terminate its old credit agreement?

    CBRE terminated its old credit agreement to enter into the new, larger, and potentially more favorable credit facility which offers greater capacity and broader international subsidiary access.

04—Continue

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