0001213900-26-045911
SEC filingNewmark Group, Inc. entered into a Third Amended and Restated Credit Agreement increasing its unsecured senior revolving credit facility to $900 million with maturity extended to April 17, 2030.
Newmark Group, Inc. has significantly enhanced its liquidity profile by amending its revolving credit facility, upscaling from $600 million to $900 million—a 50% increase—with an option to expand further to $1.1 billion upon meeting specified conditions. This amendment extends the maturity by nearly three years to April 17, 2030, from the prior April 26, 2027 date, providing extended financial flexibility amid general corporate purposes usage. Interest pricing remains competitive, benchmarked to Term SOFR or base rate with margins tied to credit ratings, starting at Pricing Level III (BBB-/BBB-) with SOFR margin at 1.625% and base at 0.625%, yielding approximately 5.27% on SOFR borrowings as of the agreement date using 30-day average SOFR data. The facility retains unchanged financial covenants on interest coverage and leverage, alongside standard affirmative/negative covenants and events of default, signaling lender confidence in Newmark's creditworthiness. Bank of America, N.A. continues as Administrative Agent, supported by a broad syndicate including co-syndication and documentation agents. This move bolsters Newmark's balance sheet for operational needs in commercial real estate services, as highlighted in the accompanying press release.