Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

CBRE GROUP, INC. Capital/Financing Update 2015

Aug 6, 2015

30026_rns_2015-08-06_c921d358-b6b9-4835-a348-68a31da21d06.zip

Capital/Financing Update

Open in viewer

Opens in your device viewer

Filed Pursuant to Rule 433 File No. 333-201126

Pricing Term Sheet

CBRE Services, Inc.

$600,000,000 4.875% Senior Notes due 2026

August 6, 2015

The following information, filed pursuant to Rule 433, supplements the Preliminary Prospectus Supplement dated August 6, 2015, Registration Statement No. 333-201126

Issuer: CBRE Services, Inc. (the “Issuer”)
Expected Ratings (Moody’s/S&P):* Baa3/BBB
Guarantors: CBRE Group, Inc. and the subsidiaries of the Issuer that guarantee its senior credit facility
Title of Securities: 4.875% Senior Notes due 2026 (the “Notes”)
Principal Amount: $600,000,000
Trade Date: August 6, 2015
Settlement Date (T+5): August 13, 2015
Final Maturity Date: March 1, 2026
Interest Payment Dates: March 1 and September 1, commencing March 1, 2016
Record Dates: February 15 and August 15
Coupon: 4.875%
Benchmark Treasury: UST 2.125% due May 15, 2025
Benchmark Treasury Price / Yield: 99-06 / 2.218%
Spread to Benchmark Treasury: + 275 basis points
Yield to Maturity: 4.968%
Public Offering Price: 99.240% of the principal amount
Net Proceeds to Issuer (before expenses): $591,540,000
Optional Redemption Provisions:
Make-Whole Premium: Prior to December 1, 2025, the Issuer will be entitled, at the Issuer’s option, to redeem all or a portion of the Notes at a redemption price equal to the greater of (1) 100% of the principal amount of the Notes to be
redeemed and (2) the sum of the present values of the remaining scheduled payments of principal and interest thereon to December 1, 2025 (not including any portions of payments of interest accrued as of the date of redemption) discounted to the
date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate (T+45 basis points). In the case of each of clauses (1) and (2), accrued and unpaid interest, if any, will be
payable to, but not including, the date of redemption.

| Par Call: | From and after December 1, 2025, the Issuer will be entitled, at the Issuer’s option, to redeem all or a portion of the Notes at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued
and unpaid interest, if any, to, but not including, the date of redemption. |
| --- | --- |
| CUSIP/ISIN: | 12505BAD2 / US12505BAD29 |
| Joint Book-Running Managers: | J.P. Morgan Securities LLC HSBC Securities
(USA) Inc. Merrill Lynch, Pierce, Fenner & Smith Incorporated Wells Fargo Securities, LLC Credit Suisse Securities (USA)
LLC Mitsubishi UFJ Securities (USA), Inc. RBS Securities
Inc. Scotia Capital (USA) Inc. |
| Co-Managers: | Santander Investment Securities Inc. BNY Mellon
Capital Markets, LLC Mizuho Securities USA Inc. U.S. Bancorp
Investments, Inc. ANZ Securities, Inc. PNC Capital Markets
LLC |

*Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension or withdrawal at any time.

The Issuer has filed a registration statement including a prospectus and a prospectus supplement with the Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus and prospectus supplement in that registration statement and other documents the Issuer has filed with the SEC for more complete information about the Issuer and this offering. You may obtain these documents for free by visiting EDGAR on the SEC Web site 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.