LOS ANGELES, CA--(BUSINESS WIRE)--CB Richard Ellis Group Inc (NYSE:CBG) today announced that it has revised the amount of its credit agreement debt that has been modified to $985 million.In a press release issued by the Company on August 25, 2009, the amount of its credit agreement debt subject to modification had been reported incorrectly as $994 million.
The incorrect total impacted certain other amounts cited in the August 25, 2009 press release.
The incorrect total impacted certain other amounts cited in the August 25, 2009 press release.
The following are the correct figures:
the required debt amortization payments due in 2010 will be $182 million (rather than $180 million as reported); the required debt amortization payments due in 2011 will be $238 million (rather than $234 million);
the outstanding term debt extended by 18 months to June 2013 is approximately $248 million (rather than $257 million).
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2008 revenue).
The Company has approximately 30,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide.
CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.
CB Richard Ellis has been named a BusinessWeek 50 “best in class” company and Fortune 100 fastest growing company two years in a row. Please visit our Web site at http://www.cbre.com/.Contacts:
Robert Sulentic, Group President & Chief Financial Officer, 310-405-8905 or
Nick Kormeluk, Investor Relations, 949-809-4308 or
Steve Iaco, Corporate Communications, 212-984-6535
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