CBRE Group upsizes sterling term loan A-1 to roughly $300 million

By Sara Rosenberg

New York, Nov. 3 - CBRE Group Inc. increased the size of its senior secured sterling term loan A-1 due May 2016 to about $300 million (£187 million) from around $250 million, according to a market source.

HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC are the lead banks on the loan.

Pricing on the A-1 tranche is the same as pricing on the company's existing term loan A, which is a range of Libor plus 200 basis points to 375 bps based on leverage.

Proceeds will be used to enhance the company's overall financial flexibility and for general corporate purposes.

CBRE is a Los Angeles-based commercial real estate services firm.

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