NEW
YORK, Jan. 12, 2024 /PRNewswire/ -- Newmark
Group, Inc. (Nasdaq: NMRK) ("Newmark" or the "Company"), today
announced the closing of its offering of $600.0 million aggregate principal amount of
7.500% senior notes (the "notes").
The notes are general senior unsecured obligations
of Newmark. The notes will pay interest semi-annually at a
rate of 7.500% per annum, on each January
12 and July 12, beginning on
July 12, 2024, and will mature on
January 12, 2029. The Company intends
to use the net proceeds to repay all or a portion of the
$420.0 million outstanding under its
term loan. Any additional net proceeds will be used to repay
outstanding revolving debt, including with respect to the
borrowings under the Company's credit agreement with Cantor
Fitzgerald, L.P., and used for general corporate purposes.
The notes were offered and sold in a private offering exempt
from the registration requirements under the Securities Act of
1933, as amended (the "Securities Act"). The notes have not been
registered under the Securities Act or the securities laws of any
other jurisdiction and may not be offered or sold in the United States absent registration or an
applicable exemption from registration. This notice is issued
pursuant to Rule 135c under the Securities Act, and does not
constitute an offer to sell nor a solicitation of an offer to buy
any of these securities and shall not constitute an offer,
solicitation or sale in any jurisdiction in which such offer,
solicitation or sale is unlawful.
DISCUSSION OF FORWARD-LOOKING STATEMENTS ABOUT
NEWMARK
Statements in this document regarding
Newmark that are not historical facts are "forward-looking
statements" that involve risks and uncertainties, which could cause
actual results to differ from those contained in the
forward-looking statements. These include statements about the
Company's business, results, financial position, liquidity, and
outlook, which may constitute forward-looking statements and are
subject to the risk that the actual impact may differ, possibly
materially, from what is currently expected. Except as required by
law, Newmark undertakes no obligation to update any
forward-looking statements. For a discussion of additional risks
and uncertainties, which could cause actual results to differ from
those contained in the forward-looking statements, see
Newmark's Securities and Exchange Commission filings,
including, but not limited to, the risk factors and Special Note on
Forward-Looking Information set forth in these filings and any
updates to such risk factors and Special Note on Forward-Looking
Information contained in subsequent reports on Form 10-K, Form 10-Q
or Form 8-K.
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SOURCE Newmark Group, Inc.