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CBRE GROUP, INC. 8-K Report, Material Agreement (Aug 7, 2015)

Reports
Material Agreements·Exhibits & Filings
Filing Date
Filed August 7, 2015
Period End
August 6, 2015
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 August 7, 2015. Cited figures are marked; the original filing is the authoritative source.

CBRE Group, Inc. (CBRE) announced on August 6, 2015, the execution of an underwriting agreement for the public offering of $600 milliona in aggregate principal amount of senior notes due 2026.

These notes will bear a fixed interest rate of 4.875%b and mature on March 1, 2026. The offering is expected to close on August 13, 2015, subject to standard closing conditions.

The primary purpose of this debt issuance is to fund general corporate purposes, specifically allocating a portion of the proceeds towards the previously announced acquisition of Johnson Controls, Inc.'s Global Workplace Solutions (GWS) business. This strategic acquisition is anticipated to close in the late third or early fourth quarter of 2015, signaling a significant expansion for CBRE.

02—Key points

Key Highlights

  1. CBRE Group, Inc. is raising $600 million through the issuance of senior notes due 2026.
  2. The senior notes will carry a fixed interest rate of 4.875% per annum.
  3. The proceeds are earmarked for general corporate purposes, including a portion for the acquisition of Johnson Controls' GWS business.
  4. The GWS acquisition is expected to close in late Q3 or early Q4 2015.
  5. The offering is being underwritten by a syndicate of major financial institutions including J.P. Morgan Securities LLC, HSBC Securities (USA) Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Wells Fargo Securities, LLC, and Credit Suisse Securities (USA) LLC.
  6. The sale of the notes is scheduled to close on August 13, 2015.

03—Questions

Frequently Asked Questions

  1. What is the main purpose of the $600 million senior notes offering?

    The primary purpose is to raise capital for general corporate needs, with a significant portion intended to fund the previously announced acquisition of Johnson Controls' Global Workplace Solutions (GWS) business.

  2. When is the GWS acquisition expected to close?

    The acquisition of the GWS business is anticipated to close in the late third quarter or early fourth quarter of 2015.

  3. What are the key terms of the senior notes being issued?

    The notes have an aggregate principal amount of $600 million, a fixed interest rate of 4.875% per annum, and a maturity date of March 1, 2026. Interest will be paid semi-annually.

  4. Who are the underwriters for this offering?

    The offering is being underwritten by a syndicate of prominent financial institutions, including J.P. Morgan Securities LLC, HSBC Securities (USA) Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Wells Fargo Securities, LLC, and Credit Suisse Securities (USA) LLC.

04—Continue

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