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| CB Richard Ellis lenders agree to extend maturity Los Angeles-based commercial real estate giant CB Richard Ellis Group, Inc. announced that it has reached agreement to modify $994 million of debt by offering lenders the ability to swap certain existing tranches of debt for new tranches with longer dated maturities and/or less amortization. CB Richard Ellis ended Q2 2009 with more than $300 million of cash on its balance sheet and more than $500 million of capacity available on its revolving credit facility. Its credit agreement leverage ratio as of the end of Q2 2009 was 2.47x. CB Richard Ellis' remaining total required debt amortization payments will be $4 million in 2009, $180 million in 2010 and $234 million in 2011. The company anticipates prepaying some of the required amortization before it comes due. write your comments about the article :: © 2009 Construction News :: home page |