Form 8-K · Current Report · Filed 2024-02-23
CBRE Group, Inc. Issues $500 Million Senior Notes for Acquisition and Appoints New Director
On February 20, 2024, CBRE Group, Inc. issued $500 million in senior notes due 2029 to finance the acquisition of J&J Worldwide Services. Additionally, on February 21, 2024, the company appointed Guy A. Metcalfe to its Board of Directors, effective February 26, 2024. The notes, issued by CBRE Services, Inc., are fully guaranteed by the company and rank senior in right of payment to future subordinated indebtedness. Mr. Metcalfe, a former Global Chairman at Morgan Stanley, brings over 30 years of experience in real estate investment banking.
- Filer
- CBRE Group Inc. CBRE · NYSE
- Filed
- Accession
- 0001193125-24-044484
- CIK
- 0001138118
- Signal
- Medium impactReal Estate
- Source
- Official filing on sec.gov ↗
Items reported
Entry into a Material Definitive Agreement
Creation of a Direct Financial Obligation
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Regulation FD Disclosure
Financial Statements and Exhibits
Market reaction
Close before filing
$91.53
Next session
-1.7%
Since filing
+60.4%
Latest close
$146.81
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from CBRE reporting the same item, with the next session's move:
Exhibits (4)
About CBRE Group Inc.
CBRE Group Inc. operates as a leading commercial real estate services and investment firm globally. The company's primary purpose is to offer a broad array of real estate solutions, sector-driven insights, and advisory services to a diverse clientele that includes corporations, property owners, investors, and developers. CBRE provides expertise in property management, strategic consulting, valuation, project management, and capital markets operations. Known for its vast geographic presence, CBRE serves numerous industries, encompassing sectors such as retail, industrial, office, and healthcare. With comprehensive service offerings, the firm plays a vital role in shaping urban landscapes and responding to market dynamics. Headquartered in Dallas, Texas, CBRE Group Inc. leverages its extensive global network and local market expertise to drive innovation and sustainable practices, profoundly influencing how real estate industry challenges are addressed across the world.
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