CBRE Group entered into a new five-year revolving credit agreement that increases its revolving credit facility to $3.5 billion from $3.15 billion.
The facility includes incentives linked to achieving certain sustainability goals, including increasing CBRE offices by more than 10,000 square feet to achieve sustainability certificates,procurement spending with sustainable suppliers and the North American vehicle fleet converted to electric vehicles.
“The new facility enhances our capacity and flexibility to invest in CBRE’s growth while advancing our environmental, social and governance goals,” Emma Giamartino, chief financial and investment officer of CBRE, said. “We appreciate this continued vote of confidence from our lenders in our people, platform and strategy.”
The joint lead arrangers and joint bookrunners for the transaction were Wells Fargo Securities, BofA Securities, The Bank of Nova Scotia, HSBC Bank, JPMorgan Chase Bank and National Westminster Bank.