CBRE Group (CBRE) Prices $500M Notes Offering

CBRE Group, Inc. (NYSE: CBRE) today announced the pricing of the offering of $500 million in aggregate principal amount of 5.500% Senior Notes due 2029. The Notes will have an interest rate of 5.500% per annum and are being issued at a price equal to 99.837% of their face value. The Company’s wholly owned subsidiary, CBRE Services, Inc., will issue the Notes, which are guaranteed on a full and unconditional basis by the Company. The Notes are expected to settle on February 23, 2024, subject to the satisfaction of customary closing conditions.

The Company estimates that the net proceeds from the offering will be approximately $495 million, after deducting the underwriters’ discounts and estimated offering expenses. The Company intends to use the net proceeds to finance in part the acquisition of J&J Worldwide Services.

Wells Fargo Securities, LLC, BofA Securities, Inc. and HSBC Securities (USA) Inc. are acting as joint book-running managers for the offering of the Notes.

The Notes are being offered pursuant to an effective shelf registration statement that the Company previously filed with the Securities and Exchange Commission (the “SEC”). The offering of the Notes are being made only by means of a prospectus supplement and accompanying base prospectus, which may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies may be obtained by contacting Wells Fargo Securities, LLC toll free at 1-800-645-3751, BofA Securities, Inc. toll free at 1-800-294-1322 or HSBC Securities (USA) Inc. toll free at 1-866-811-8049.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

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