Newmark Group Inc. is offering to exchange all the outstanding $550.0 million of its 6.125% senior notes due 2023 that were issued in a November 2018 private placement for an equal amount of its new 6.125% senior notes due 2023.
The exchange notes being offered are due Nov. 15, 2023, and will be senior unsecured obligations. Interest on the notes is payable semiannually every May 15 and Nov. 15, starting in 2019.
The commercial real estate services firm will not receive any cash proceeds from the exchange offer, but will receive in exchange a like principal amount of old notes as consideration for the issuance.
Regions Bank is the exchange agent and trustee for the notes.