Cushman & Wakefield plc announced that it has successfully completed a repricing of $1.0 billion of its Term Loan (?Term Loan?) due 2030. The repricing reduces the applicable interest rate on the $1.0 billion of Term Loan issued in August 2023 by 25bps from Term SOFR plus 4.00% to Term SOFR plus 3.75%. There are no changes to the maturity of the Term Loan following this repricing and all other terms are substantially unchanged.

Additionally, the Company announced that during the first quarter it elected to prepay $50 million of its Term Loan due 2025. The Company estimates that the repricing and optional prepayment of debt will produce cash interest expense savings of approximately $6 million annually.