Cushman Completes Term Loan Extension, Repricing and Upsize
Simpson Thacher recently represented Cushman & Wakefield Ltd. (“Cushman”) in connection with an amendment to its existing senior secured credit facility that (i) repriced approximately $848 million of its existing term loans, (ii) extended the maturity of such term loans to 2033 and (iii) upsized the principal amount of such term loan tranche by approximately $353 million. Proceeds from the transaction were used to refinance certain other indebtedness.
Cushman is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries.
The Simpson Thacher team included Katie Reaves, Nick Scian, Toni Woods, Elias Wachenje and Tom Lort (Credit); Hui Lin (Capital Markets); Karen Hsu Kelley and Brandon Adoni (PCAP); and Michael Mann (Tax).