Cushman & Wakefield Completes Redemption of 2028 Notes, Bringing Total Debt Repayments to More Than $800 Million Since 2024

NEW YORK--(BUSINESS WIRE)--Cushman & Wakefield Ltd. (NYSE: CWK), a leading global commercial real estate services firm, announced today that it has redeemed the remaining $150 million of its outstanding 6.75% Senior Secured Notes due May 2028 (“2028 Notes”), which had an original principal amount of $650 million. This redemption fully retires the 2028 Notes, brings total debt repayments since 2024 to more than $800 million, and leaves the company with no maturities until 2030.

“We continue to deliver on our deleveraging targets ahead of schedule, reflecting disciplined execution and confidence in our business model and long-term strategy,” said Michelle MacKay, Chief Executive Officer at Cushman & Wakefield. “This year alone, we’ve repaid more than $300 million in debt, secured the lowest borrowing margin on our term loan since going public, extended our maturity profile, and used swaps to bring approximately 80% of our debt to fixed-rate exposure. Together with our recent earnings momentum, these steps earned us credit rating upgrades from both S&P and Moody’s. Thanks to the hard work of our teams, our balance sheet has been transformed, and a stronger capital structure enhances our durability and flexibility as we drive toward our 2028 targets.”

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for occupiers and investors with approximately 53,000 employees in over 350 offices and nearly 60 countries. In 2025, the firm reported revenue of $10.3 billion across its core service lines of Services, Leasing, Capital markets, and Valuation and other. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com

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