Colliers International Expands Borrowing Capacity Of Credit Facility To US$700 Million

KUALA LUMPUR, Jan 19 (Bernama) -- Colliers International Group Inc. has expanded the borrowing capacity of its credit facility to US$700 million from US525 million earlier. In a statement Thursday, the group said it had also extended the maturity date to January 2022 from June 2020, in a move to increase flexibility for future growth. "The new unsecured facility reflects Colliers' proven long-term growth strategy, increased scale, geographic and service line diversification, high level of insider ownership, and investment-grade balance sheet," it added. Chief Financial Officer John B. Friedrichsen said the expanded and newly unsecured five year facility, provides Colliers with competitively priced and highly flexible debt capital, that forms an important component of its overall capital structure. It also forms a solid foundation to anchor the company's strong balance sheet and support growth well into the future, he added. Colliers International Group Inc. is an industry leading global real estate services company with more than 16,000 skilled professionals operating in 66 countries. --BERNAMA