Cushman & Wakefield Pays Off $150M Debt

By Greg Peters • Thursday, October 22 01:50 • Permanent Link

Cushman & Wakefield said it redeemed the remaining $150 million of its 6.75% senior secured notes due May 2028, fully retiring the issue and eliminating any debt maturities until 2030.

The company said the original principal amount of the notes was $650 million, meaning it has now reduced that debt to zero. With this latest repayment, total debt repayments since 2024 have topped $800 million. The company also said it has repaid more than $300 million in debt so far in 2026 alone.

Cushman & Wakefield said the move follows a series of balance-sheet actions this year, including securing its lowest borrowing margin on its term loan since going public, extending its maturity profile, and using swaps to convert about 80% of its debt to fixed-rate exposure.

The company said those steps, along with recent earnings momentum, contributed to credit rating upgrades from both S&P and Moody’s. Following these announcements, the company's shares moved 4.26%, and are now trading at a price of $11.51. For more information, read the company's full 8-K submission here.

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