Colliers Extends Maturity and Enhances Flexibility of its US$2.25 Billion Credit Facility

Rhea-AI Summary

Colliers (NASDAQ and TSX: CIGI) amended its US$2.25 billion revolving credit facility on February 20, 2026, extending the maturity to February 2031 and adding a US$250 million accordion feature.

The syndicated facility, led by Bank of Montreal and 13 banks, retains sustainability-linked pricing metrics and ranks pari passu with the company’s existing privately placed fixed-rate senior notes, supporting acquisitions and internal growth initiatives.

Positive

• Maturity extended to February 2031, lengthening liquidity runway
• Maintains total facility of US$2.25 billion, preserving committed capacity
• Adds a US$250 million accordion to support acquisition strategy
• Sustainability-linked pricing metrics extended, aligning financing with ESG goals
• Facility syndicated to 13 banks, led by Bank of Montreal

Negative

• None.

Key Figures

Credit facility size: US$2.25 billion Maturity date: February 2031 Accordion feature: US$250 million +1 more

4 metrics

Credit facility size US$2.25 billion Total revolving credit facility maintained under amended agreement

Maturity date February 2031 Extended maturity of revolving credit facility

Accordion feature US$250 million Incremental borrowing capacity added to credit facility

Syndicate size 13 banks Number of Canadian, US and international banks in syndicate

Market Reality Check

Price: $114.13 Vol: Volume 133,924 is below t...

low vol

$114.13 Last Close

Volume Volume 133,924 is below the 20-day average of 628,017, indicating subdued trading activity into this balance-sheet announcement. low

Technical Shares at $115.02 are trading below the $144.40 200-day MA and sit 32.94% below the 52-week high of $171.51.

Peers on Argus

CIGI gained 2.02% while key real estate peers showed mixed moves: FSV +0.5%, COM...

CIGI gained 2.02% while key real estate peers showed mixed moves: FSV +0.5%, COMP +0.77%, CWK +0.38%, OPEN -15.45%, NMRK -0.52%. This pattern points to a stock-specific reaction rather than a coordinated sector move.

Historical Context

5 past events · Latest: Feb 13 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 13	Earnings results	Positive	-4.1%	Strong FY 2025 revenue, EBITDA and EPS growth with high recurring revenue.
Feb 04	Strategic acquisition	Positive	+4.9%	Acquisition of California transit engineering firm adding 50 professionals and expertise.
Feb 03	Major acquisition	Positive	-5.9%	Agreement to acquire Ayesa Engineering for ~US$700M, expanding global engineering.
Jan 29	Bolt-on acquisition	Positive	-1.4%	Englobe unit adding Western Canadian specialty engineering firm with ~200 professionals.
Jan 23	Leadership change	Neutral	-0.8%	Appointment of new CEO for Colliers France in planned leadership transition.

Pattern Detected

Recent news often drew muted or negative reactions, even on seemingly positive updates like strong earnings and strategic acquisitions, with only one clear positive alignment.

Recent Company History

Over the past month, Colliers reported strong 2025 results with $5.56B revenue and double‑digit growth in Adjusted EBITDA and EPS, yet the stock fell 4.09%. Multiple engineering-focused acquisitions, including Ayesa for about US$700M and Ramos Consulting Services, showed a clear expansion strategy, but price reactions were mixed to negative. Today’s extension of the US$2.25B credit facility supports that acquisition-led growth path by emphasizing longer-term funding flexibility.

Market Pulse Summary

This announcement extends Colliers’ US$2.25B revolving credit facility to February 2031 and adds a U...

Analysis

This announcement extends Colliers’ US$2.25B revolving credit facility to February 2031 and adds a US$250M accordion, reinforcing funding for its acquisition-led growth strategy. The facility remains syndicated across 13 major banks and ranks pari passu with existing senior notes, indicating consistent capital structure positioning. Investors may watch how this added flexibility supports upcoming deals and how leverage interacts with the stock’s position below its 200-day moving average and 52-week high.

Key Terms

revolving credit facility, accordion feature, sustainability-linked pricing, pari passu, +1 more

5 terms

revolving credit facility financial

"announced today that it has amended its revolving credit facility."

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

accordion feature financial

"and now includes a US$250 million accordion feature."

An accordion feature is a clause in a loan or financing agreement that allows a company to expand the size of a credit line or the amount of securities available under the same contract without drafting a completely new deal. Like a suitcase that can be extended to hold more items, it gives a company quick flexibility to raise extra money, which can help fund growth but may increase debt or dilute existing shareholders—so investors watch it for changes in risk and ownership.

sustainability-linked pricing financial

"The facility’s sustainability-linked pricing metrics were also extended, reinforcing"

A pricing arrangement where the cost of financing or fees is adjusted up or down based on a company’s measurable progress toward environmental or social targets. Think of it like a loan or contract that gives a lower price or interest rate as a company hits agreed sustainability milestones, and a higher one if it misses them; this directly affects cash costs, signals operational discipline, and can change credit risk and investor returns.

pari passu financial

"The credit facility ranks pari passu with Colliers’ existing privately placed"

An instruction that different claims, securities, or creditors are treated equally and share rights or payments on the same priority level. For investors, it means their position will be paid or have voting power alongside others in the same class rather than being favored or subordinated—think of several people standing in one bus line who all get on together rather than some cutting ahead. That parity affects expected recovery in reorganizations, dividend order, and relative risk.

senior notes financial

"pari passu with Colliers’ existing privately placed fixed rate senior notes."

Senior notes are a type of loan that a company borrows from investors, promising to pay it back with interest. They are called "senior" because in case the company faces financial trouble, these lenders are paid back before others. This makes senior notes safer for investors compared to other types of loans or bonds.

AI-generated analysis. Not financial advice.

TORONTO, Feb. 20, 2026 (GLOBE NEWSWIRE) -- Colliers (NASDAQ and TSX: CIGI), a global leader in professional services and investment management, announced today that it has amended its revolving credit facility. The amended agreement extends the maturity to February 2031, providing significant long-term financial flexibility.

The amended agreement maintains the total credit facility at US$2.25 billion and now includes a US$250 million accordion feature. The updated terms provide enhanced flexibility to support Colliers' ongoing acquisition strategy and internal growth initiatives. The facility’s sustainability-linked pricing metrics were also extended, reinforcing the Company's commitment to its sustainability goals.

"This successful extension and amendment of our credit facility underscores the strength of our balance sheet and the confidence of our long-standing banking partners in our global diversified platform and disciplined growth strategy," said Michael Harding, Vice President, Finance & Treasurer of Colliers. "The enhanced flexibility within the facility will allow us to continue our expansion into high quality, recurring professional services through our enterprising acquisition program, a key driver of our long-term success."

The credit facility is led by Bank of Montreal and syndicated to 13 major Canadian, US and international banks. The credit facility ranks pari passu with Colliers’ existing privately placed fixed rate senior notes.

About Colliers 

Colliers (NASDAQ, TSX: CIGI) is a global diversified professional services and investment management company operating through three leading industry businesses: Commercial Real Estate, Engineering, and Investment Management. With greater than a 30-year track record of consistent growth and strong recurring cash flows, we scale complementary, high-value businesses that provide essential services across the full asset lifecycle.

Our unique partnership philosophy empowers exceptional leaders, preserves our entrepreneurial culture, and ensures meaningful inside ownership — driving strong alignment and sustained value creation for our shareholders.

With $5.6 billion in annual revenues, 24,000 professionals, and $108 billion in assets under management, Colliers is committed to accelerating the success of our clients, investors, and people worldwide. Learn more at corporate.colliers.com

Forward-looking Statements

This press release includes or may include forward-looking statements. Forward-looking statements include the Company’s financial performance outlook and statements regarding goals, beliefs, strategies, objectives, plans or current expectations. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results, performance or achievements contemplated in the forward-looking statements. Such factors include: economic conditions, especially as they relate to commercial and consumer credit conditions and consumer spending, particularly in regions where the business may be concentrated; commercial real estate and real asset values, vacancy rates and general conditions of financial liquidity for real estate transactions; trends in pricing and risk assumption for commercial real estate services; the effect of significant movements in capitalization rates across different asset types; a reduction by companies in their reliance on outsourcing for their commercial real estate needs, which would affect revenues and operating performance; competition in the markets served by the Company; the utilization of artificial intelligence (AI) and machine learning technologies, including associated impacts on the Company’s services, competitive environment, ability to hire/retain specialized talent, cybersecurity, and legal and governance risks; the ability to attract new clients and to retain clients and renew related contracts; the ability to attract new capital commitments to Investment Management funds and retain existing capital under management; the ability to retain and incentivize employees; increases in wage and benefit costs; the effects of changes in interest rates on the cost of borrowing; unexpected increases in operating costs, such as insurance, workers’ compensation and health care; changes in the frequency or severity of insurance incidents relative to historical experience; the effects of changes in foreign exchange rates in relation to the US dollar on the Company’s Canadian dollar, Euro, Australian dollar and UK pound sterling denominated revenues and expenses; the impact of pandemics on client demand for the Company’s services, the ability of the Company to deliver its services and the health and productivity of its employees; the impact of global climate change; the impact of political events including elections, referenda, trade policy changes, immigration policy changes, hostilities, war and terrorism on the Company’s operations; the ability to identify and make acquisitions at reasonable prices and successfully integrate acquired operations; the ability to execute on, and adapt to, information technology strategies and trends; the ability to comply with laws and regulations, including real estate investment management and mortgage banking licensure, labour and employment laws and regulations, as well as the anti-corruption laws and trade sanctions; and changes in government laws and policies at the federal, state/provincial or local level that may adversely impact the business.

Additional information and risk factors identified in the Company’s other periodic filings with Canadian and US securities regulators are adopted herein and a copy of which can be obtained at www.sedarplus.ca. Forward looking statements contained in this press release are made as of the date hereof and are subject to change. All forward-looking statements in this press release are qualified by these cautionary statements. Except as required by applicable law, Colliers undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Summary unaudited financial information is provided in this press release. This press release should be read in conjunction with the Company's consolidated financial statements and MD&A to be made available on SEDAR+ at www.sedarplus.ca.

This press release does not constitute an offer to sell or a solicitation of an offer to purchase an interest in any fund.

COMPANY CONTACT:

Christian Mayer
Chief Financial Officer
(416) 960-9500

FAQ

What change did Colliers (CIGI) make to its credit facility on February 20, 2026?

Colliers extended the facility maturity to February 2031 and added a US$250 million accordion. According to the company, the amendment keeps the total commitment at US$2.25 billion and retains sustainability-linked pricing metrics.

How does the amended US$2.25 billion facility affect Colliers' (CIGI) acquisition plans?

The amendment provides enhanced financial flexibility to support acquisitions and growth initiatives. According to the company, the extended maturity and accordion feature are intended to back its enterprising acquisition program and internal expansion.

Who are the lenders behind Colliers' (CIGI) amended credit facility?

The facility is led by Bank of Montreal and syndicated to 13 Canadian, US and international banks. According to the company, this syndication reflects continued lender confidence in its global platform and growth strategy.

Does Colliers' (CIGI) amended credit facility include sustainability terms?

Yes. The facility’s sustainability-linked pricing metrics were extended as part of the amendment. According to the company, this reinforces its commitment to sustainability objectives tied to financing costs.

How does the amended facility rank versus Colliers' existing debt (CIGI)?

The amended credit facility ranks pari passu with the company’s privately placed fixed-rate senior notes. According to the company, the ranking means the facility shares the same senior claim priority as those notes.