Colliers International lifts revolver to $700 million, extends to 2022

By Marisa Wong

Morgantown, W.Va., Jan. 18 – Colliers International Group Inc. expanded its multicurrency revolving credit facility to $700 million from $525 million and extended the maturity date to January 2022 from June 2020, according to a press release.

The company said it expanded and extended its revolver to reinforce its already strong financial position and increase its flexibility for future growth.

TD Securities acted as lead arranger for the financing. Toronto-Dominion Bank acted as administration agent with HSBC Bank and Bank of Montreal as syndication agents and JPMorgan Chase Bank, Bank of Nova Scotia and U.S. Bank 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.

“We are very pleased to have completed this important step in our ongoing efforts to ensure that Colliers has the necessary capacity and flexibility to fund our operations and growth across our global operations,” Christian Mayer, vice president finance and treasurer, said in the release.

“The expanded and newly unsecured [five-year multicurrency facility] provides us with competitively priced and highly flexible debt capital that forms an important component of our overall capital structure, and a solid foundation to anchor our strong balance sheet and support our growth well into the future,” added chief financial officer John B. Friedrichsen.

Colliers is a global real estate services company based in Toronto.

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