Colliers Group’s $1.5 Billion Credit Facility Extension

Ogier, working alongside Torys LLP and Norton Rose Fulbright Canada LLP, advised on the extension and increase of the credit facility.

Colliers International Group Inc. (TSX:CIGI) (NASDAQ:CIGI) has extended and increased its unsecured multi-currency revolving credit facility for a new five-year term maturing in May 2027. 

The new facility has increased Colliers’ borrowing capacity from US$1 billion to US$1.5 billion, with an extended maturity date for an additional five year term. The facility was also modified to (a) make it sustainability-linked, and (b) include pricing adjustments tied to the achievement of certain performance targets, including: the reduction of greenhouse gas emissions, increased female representation in management roles, the securing of WELL Health-Safety certification for Colliers-occupied offices. 

The prior credit facility had a maturity of April 2024. 

The Ogier team comprised of associate Tiffany Tolliss and partner Ray Wearmouth (Picture). 

 

Involved fees earner: Tiffany Tolliss – Ogier LLP; Ray Wearmouth – Ogier LLP;

Law Firms: Ogier LLP;

Clients: Colliers International;

Sonia Carcano

Author: Sonia Carcano