Cushman talks $2.85 billion term loan B at Libor plus 275-300 bps

By Sara Rosenberg

New York, Aug. 7 – Cushman & Wakefield is shopping its $2.85 billion seven-year term loan B (BB-) at price talk of Libor plus 275 basis points to 300 bps with a 0% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

J.P. Morgan Securities LLC is the left lead bank on the deal that launched with a call on Monday.

Commitments are due at 4 p.m. ET on Aug. 15.

Proceeds will be used to refinance existing debt.

Cushman & Wakefield is a Chicago-based commercial real estate services company.

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