CBRE Services pricing $500 million 10-year senior notes Monday

By Paul A. Harris and Aleesia Forni

Virginia Beach, Va., March 11 - CBRE Services Inc. is set to price $500 million senior notes due 2023 (Ba1/B+) on Monday, according to a market source.

An investor call was scheduled to be held at 11 a.m. ET.

BofA Merrill Lynch, J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Wells Fargo Securities, LLC, HSBC Securities (USA) Inc., Scotia, Barclays and RBS Securities Inc. are the banks on the Securities and Exchange Commission-registered transaction.

The notes will be non-callable for five years and feature a 101% poison put.

Proceeds, along with the company's new credit facility and cash on hand, will be used to repay debt.

CBRE Services is a Los Angeles-based real estate company.

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