LOS ANGELES--(BUSINESS WIRE)--CBRE Group, Inc. (NYSE:CBG) (the “Company”) today announced that it is in discussions with lenders about the potential of adding a $300 million tranche of term loans under its existing credit agreement. The Company expects that it would draw down this new term loan facility on or prior to the closing of its previously announced acquisition of the Global Workplace Solutions (GWS) business of Johnson Controls, Inc. The closing of the GWS acquisition is subject to receipt of customary regulatory approvals and satisfaction of other customary closing conditions and is expected to occur in the late third quarter or early fourth quarter of 2015.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
“Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements related to the closing of GWS acquisition, the proposed new term loan facility, the use of any new term loan facility and the Company’s existing credit facilities. These forward-looking statements involve known and unknown risks, uncertainties and other factors discussed in CBRE Group, Inc.’s filings with the SEC. Any forward-looking statements speak only as of the date of this press release and, except to the extent required by applicable securities laws, CBRE Group, Inc. expressly disclaims any obligation to update or revise any of them to reflect actual results, any changes in expectations or any change in events. If CBRE Group, Inc. does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements. For additional information concerning risks, uncertainties and other factors that may cause actual results to differ from those anticipated in the forward-looking statements, and risks to CBRE Group, Inc.’s business in general, please refer to its SEC filings, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2014 and its quarterly report on Form 10-Q for the quarterly period ended March 31, 2015.