CBRE Group, Inc. Announces Pricing of $600 Million of 4.875% Senior Notes Due 2026

LOS ANGELES--(BUSINESS WIRE)-- CBRE Group, Inc. (NYSE: CBG) today announced the pricing of the offering of $600 million in aggregate principal amount of 4.875% Senior Notes due 2026 (the “Notes”). The Notes will have an interest rate of 4.875% per annum and are being issued at a price equal to 99.240% 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 and the subsidiaries that guarantee its senior credit facility.

The Company estimates that the net proceeds from the offering will be approximately $589.8 million, after deducting the underwriters’ discounts and estimated offering expenses. The Company intends to use the proceeds from this offering for general corporate purposes, including paying a portion of the consideration for its previously announced acquisition of Johnson Controls, Inc.’s Global Workplace Solutions (GWS) business. The acquisition is expected to close in the late third quarter or early fourth quarter of 2015.

J.P. Morgan, HSBC, BofA Merrill Lynch, Wells Fargo Securities, Credit Suisse, MUFG, RBS and Scotiabank 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 will be 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 calling J.P. Morgan Securities LLC collect at 1-212-834-4533, HSBC Securities (USA) Inc. at 1-866-811-8049, Merrill Lynch, Pierce, Fenner & Smith Incorporated at 1-800-294-1322 or by emailing [email protected], Wells Fargo Securities, LLC toll free at 1-800-645-3751 or Credit Suisse Securities (USA) LLC at 1-800-221-1037.

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.

CBRE Group, Inc. is a global commercial real estate services and investment firm based in Los Angeles.

“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 offering of the Notes, the anticipated use of proceeds therefrom and the closing of the GWS acquisition. 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.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150806006733/en/

CBRE Group, Inc.
Jim Groch, Chief Financial Officer and Global Director of Corporate Development
215-921-7474
or
Steve Iaco, Senior Managing Director
Investor Relations & Corporate Communications
212-984-6535

Source: CBRE Group, Inc.

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