05:42 PM EDT, 04/09/2024 (MT Newswires) -- Cushman & Wakefield ( CWK ) said late on Tuesday that it completed repricing of a $1 billion term loan due in 2030.

The repricing lowers the rate applicable on the loan issued in August by 25 basis points to the Secured Overnight Financing Rate plus 3.75%.

All other terms are "substantially unchanged."

Additionally, the company said it elected to prepay during the first quarter $50 million of another term loan due 2025.

The company estimates that the repricing and optional prepayment will produce cash interest expense savings of about $6 million annually.