Colliers International completes US$230 million convertible senior subordinated notes offering

On May 19, 2020, Colliers International Group Inc. ("Colliers") announced the closing of its offering of 4.00% convertible senior unsecured subordinated notes due June 1, 2025 pursuant to private placement exemptions for gross proceeds of US$230 million (including US$30 million pursuant to the exercise of the initial purchasers' over-allotment option).

The notes will be offered only to "qualified institutional buyers" pursuant to Rule 144A under the U.S. Securities Act of 1933, or to certain non-U.S. persons in offshore transactions pursuant to Regulation S under the Securities Act. Offers and sales in Canada will be made only pursuant to exemptions from the prospectus requirements of applicable Canadian securities laws.

Colliers intends to use the net proceeds of the offering to repay a portion of its indebtedness under its revolving credit facility, which will then be available to be drawn, as required, for working capital, acquisitions and associated contingent purchase consideration and general corporate purposes.

Further information can be found on Globe Newswire's website.

Colliers is a leading real estate professional services and investment management company.