09:40 AM EST, 11/29/2024 (MT Newswires) -- Colliers International Group ( CIGI ) said Friday morning it has replaced an existing $1.75 billion loan agreement maturing in May 2027 with a new five-year, unsecured revolving credit facility providing up to $2.25 billion in borrowing and coming due in November 2029.

The new bank-syndicated loan facility was organized through the Bank of Montreal and ranks equally with its senior notes maturing in 2028 and 2031, according to the real estate services company. Current financial covenants and other key terms remain unchanged.

Borrowings through the new credit facility will be used by Colliers to invest in new growth initiatives, both organic and through acquisitions, it said.

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