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CBRE GROUP, INC. 8-K Report, Material Agreement (Oct 12, 2010)

Reports
Material Agreements·Financial Events·Exhibits & Filings
Filing Date
Filed October 12, 2010
Period End
October 8, 2010
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 October 12, 2010. Cited figures are marked; the original filing is the authoritative source.

CBRE Group, Inc. (CBRE) filed an 8-K report on October 11, 2010, detailing a material definitive agreement related to the issuance of $350 milliona in aggregate principal amount of 6.625% Senior Notes due October 15, 2020.

These notes were issued by its wholly-owned subsidiary, CB Richard Ellis Services, Inc., and are guaranteed by CBRE Group, Inc. and certain other subsidiaries on a full and unconditional basis. The issuance was conducted under Rule 144A and Regulation S, indicating a placement to qualified institutional buyers and non-U.S. persons.

A Registration Rights Agreement was executed, obligating CBRE to register these privately placed notes for public resale within specified timeframes. Failure to comply with these registration obligations could result in increased interest payments on the notes, up to an additional 1.00%b per annum.

02—Key points

Key Highlights

  1. CBRE Group, Inc. subsidiary issued $350 million of 6.625% Senior Notes due October 15, 2020.
  2. The notes are guaranteed by the parent company and certain subsidiaries.
  3. The issuance was a private placement to qualified institutional buyers (Rule 144A) and non-U.S. persons (Regulation S).
  4. A Registration Rights Agreement requires CBRE to register the notes for resale.
  5. Failure to meet registration deadlines can lead to increased interest payments on the notes.
  6. The notes are senior unsecured obligations of the issuer, ranking equally with existing and future senior indebtedness.
  7. The Indenture includes covenants that restrict actions such as incurring additional debt, paying dividends, and selling assets, which can be eased if the notes achieve investment grade ratings.

03—Questions

Frequently Asked Questions

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

    This 8-K filing announces CBRE Group, Inc.'s entry into a material definitive agreement, specifically the issuance of $350 million in senior notes by its subsidiary. It provides details about the terms of these notes, the guarantees, and the associated registration rights.

  2. Who issued the notes and who is responsible for them?

    The notes were issued by CB Richard Ellis Services, Inc., a wholly-owned subsidiary of CBRE Group, Inc. CBRE Group, Inc. and other specified subsidiaries guarantee these notes on a full and unconditional basis.

  3. What are the implications of the Registration Rights Agreement?

    The Registration Rights Agreement requires CBRE to register the privately placed notes, allowing holders to exchange them for publicly registered notes. If CBRE fails to meet the stipulated deadlines for registration, the interest rate on the notes will increase, potentially by up to an additional 1.00% per annum, as a penalty.

  4. What are the key terms and conditions of the Senior Notes?

    The notes bear a 6.625% interest rate, mature on October 15, 2020, and pay interest semi-annually. They are senior unsecured obligations. The indenture includes provisions for optional redemption, a mandatory repurchase offer upon a change of control, and covenants that restrict the issuer's financial and operational flexibility, some of which may be lifted if the notes achieve investment grade status.

04—Continue

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