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NEW YORK - Commercial real estate services firm Cushman & Wakefield (NYSE:CWK) has completed a repricing of approximately $840 million of its Term Loan, reducing the applicable interest rate by 25 basis points from Term SOFR plus 2.75% to Term SOFR plus 2.50%, the company announced Thursday.
The Term Loan, which was issued in January 2025, maintains its original maturity date of January 2030 with all other terms remaining substantially unchanged, according to the company statement.
This repricing follows the company’s August 5 prepayment of $150 million on the same Term Loan. With this prepayment, Cushman & Wakefield has repaid $200 million in debt year-to-date and $400 million since the beginning of 2024.
"We’re incredibly pleased to have completed another successful repricing of our term loan debt, achieving the lowest margin on our term loans since going public in 2018," said Neil Johnston, Chief Financial Officer of Cushman & Wakefield, in the press release.
Cushman & Wakefield is a global commercial real estate services firm with approximately 52,000 employees across nearly 400 offices in 60 countries. The company reported revenue of $9.4 billion in 2024 across its core service lines of Services, Leasing, Capital markets and Valuation and other.
The information in this article is based on a company press release.
In other recent news, Cushman & Wakefield reported strong financial results for the second quarter of 2025, surpassing Wall Street expectations. The company’s earnings per share reached $0.30, significantly beating the forecasted $0.22, while revenue hit $2.48 billion, exceeding the expected $2.38 billion. Following these results, Goldman Sachs upgraded Cushman & Wakefield from Sell to Buy, setting a price target of $17.50, citing improved performance in several key areas. Additionally, Citizens JMP raised its price target to $16.00, maintaining a Market Outperform rating, as the company demonstrated 7% organic revenue growth and increased its full-year outlook. Raymond James also raised its price target to $17.00, highlighting improvements in free cash flow generation and reduced leverage. In another development, Cushman & Wakefield received support from Institutional Shareholder Services for its proposed redomiciliation to Bermuda, which the company believes offers economic savings and tax neutrality. These recent developments reflect a period of positive momentum for Cushman & Wakefield.
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