Cushman & Wakefield (NYSE: CWK) has announced the successful completion of a repricing of approximately $840 million of its term loan issued in January 2025. The repricing has resulted in a reduction of the applicable interest rate on the term loan by 25 basis points, from term SOFR plus 2.75% to term SOFR plus 2.50%. The maturity of the term loan remains unchanged following this repricing, with all other terms being substantially unchanged.
Since the beginning of the year, Cushman & Wakefield has made significant strides in debt reduction. On August 5, 2025, the company elected to prepay $150 million of its term loan due in 2030, bringing the aggregate year-to-date debt repayment total to $200 million. Since the beginning of 2024, the total debt repayment stands at $400 million.
Neil Johnston, the Chief Financial Officer of Cushman & Wakefield, expressed his satisfaction with the successful repricing, highlighting that it achieved the lowest margin on the company's term loans since going public in 2018. He emphasized that this, coupled with the company's continued focus on debt reduction, balanced capital allocation, and disciplined growth, reflects the strong momentum behind its strategy.
Cushman & Wakefield is a leading global commercial real estate services firm with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2024, the firm reported revenue of $9.4 billion across its core service lines of services, leasing, capital markets, and valuation and other. The company's commitment to its strategy has garnered numerous industry and business accolades for its award-winning culture. Today the company's shares have moved -1.75% to a price of $15.69. For the full picture, make sure to review Cushman & Wakefield's 8-K report.
