New unsecured structure increases financial capacity and flexibility to fund future growth
TORONTO, Jan 19 (Bernama) -- Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIGI) ("Colliers") announced today that it has expanded and extended its multi-currency revolving credit facility (the "Facility") to reinforce its already strong financial position and increase its flexibility for future growth. Borrowing capacity has been expanded to US$700 million, from US$525 million, and the maturity date extended to January 2022 from June 2020. The new unsecured Facility reflects Colliers' proven long-term growth strategy, increased scale, geographic and service line diversification, high level of insider ownership, and investment-grade balance sheet.
TD Securities acted as Lead Arranger for the financing. The Toronto-Dominion Bank acted as Administration Agent. HSBC Bank and Bank of Montreal acted as Syndication Agents while JP Morgan Chase Bank, The Bank of Nova Scotia and U.S. Bank acted as Documentation Agents. Additional bank participants include Royal Bank of Canada, Bank of America, Canadian Imperial Bank of Commerce, National Bank of Canada, and Wells Fargo Bank. Torys LLP acted as legal counsel to Colliers in connection with this financing.For the full text, click here.