Newmark Upsizes its Senior Unsecured Credit Facility by 50% to $900 Million and Extends Maturity to April 17, 2030

Newmark (Nasdaq: NMRK) amended its senior unsecured revolving credit facility on April 17, 2026, increasing capacity by 50% to $900 million and extending maturity to April 17, 2030.

Rhea-AI Summary

Newmark (Nasdaq: NMRK) amended its senior unsecured revolving credit facility on April 17, 2026, increasing capacity by 50% to $900 million and extending maturity to April 17, 2030. The facility can be upsized to $1.1 billion subject to conditions.

Initial margins are expected at 1.625% over Term SOFR and 0.625% over base rate; Term SOFR borrowings implied an approximate 5.27% interest rate as of April 17, 2026. The company expects to use proceeds for general corporate purposes.

Positive

• Facility size increased 50% to $900 million
• Maturity extended to April 17, 2030
• Optional upsizing to $1.1 billion available

Negative

• Interest on Term SOFR borrowings ~5.27% as of April 17, 2026
• Applicable margin varies with credit rating

Argus Apr 21 session

-2.35% close to close Open Argus

Details

News Market Reaction – NMRK

On Apr 21, the day this news came out, NMRK closed 2.35% below the previous close.

Data tracked by StockTitan Argus for the Apr 21 session.

Market Context

This announcement highlights Newmark’s move to expand its senior unsecured revolving credit facility...

Analysis

This announcement highlights Newmark’s move to expand its senior unsecured revolving credit facility to $900 million, with an option up to $1.1 billion, while pushing maturity out to April 17, 2030. Combined with previously reported revenue growth and modest net leverage, it underscores a focus on financial flexibility. Investors may watch how actively the facility is utilized, any changes in credit ratings that affect applicable margins, and upcoming earnings for clarity on growth and capital allocation.

Key Figures

Credit facility size: $900 million Facility increase: 50% Upsize option: $1.1 billion +5 more

Credit facility size

$900 million

Upsized senior unsecured revolving credit facility

Facility increase

50%

Increase from prior revolving credit facility

Upsize option

$1.1 billion

Maximum size allowed under amended Credit Facility

SOFR margin

1.625% per annum

Initial applicable margin on Term SOFR borrowings

Base rate margin

0.625% per annum

Initial applicable margin on base rate borrowings

Prior facility size

$600 million

Previous revolving credit facility maturing April 26, 2027

New maturity

April 17, 2030

Extended Credit Facility maturity date

Illustrative rate

5.27%

Estimated borrowing rate under Term SOFR option as of April 17, 2026

Historical Context

5 past events · Latest: Apr 13

5 events

1. Apr 13

   Leadership appointment

   24h Move

   +2.1%

   Hired senior managing director to lead infrastructure capital markets business.

2. Apr 06

   Peer acquisition news

   24h Move

   -0.1%

   Empire State Realty Trust announced NYC retail acquisition and financing.

3. Apr 02

   Major asset sale

   24h Move

   -1.8%

   Arranged $210M sale of Miami Worldcenter retail component.

4. Apr 02

   Revised transaction release

   24h Move

   -1.8%

   Revised details on $210M Miami Worldcenter retail sale announcement.

5. Apr 02

   Earnings date notice

   24h Move

   -1.8%

   Announced timing and access details for Q1 2026 financial results.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

senior unsecured revolving credit facility, term sofr, base rate, administrative agent, +1 more

5 terms

senior unsecured revolving credit facility financial

"announced terms of its amended senior unsecured revolving credit facility (the "Credit Facility")"

A senior unsecured revolving credit facility is a bank loan line that a company can draw, repay and redraw up to an agreed limit, similar to a company credit card. It is “senior” because lenders are paid before other creditors if the company fails, and “unsecured” because it isn’t backed by specific assets; investors watch it for signals about a company’s short-term cash flexibility, borrowing cost and financial risk.

term sofr financial

"based either on:(a) Term SOFR for applicable interest periods as selected"

Term SOFR is a benchmark interest rate that reflects the cost of borrowing money over a specific period, based on actual transactions in the financial markets. It is used by lenders and borrowers to set the interest rates on loans and financial contracts, helping to ensure rates are fair and transparent. For investors, understanding term SOFR helps gauge borrowing costs and the overall direction of interest rates in the economy.

base rate financial

"or(b) A base rate to be determined by the Administrative Agent plus"

The base rate is the primary interest rate set by a central authority or used as a benchmark for pricing loans, savings and other financial products. Think of it as the anchor in a floating system: when the base rate moves, borrowing costs, corporate financing and consumer spending tend to shift too, which can change company profits and investor returns across the market.

administrative agent financial

"base rate to be determined by the Administrative Agent plus an applicable margin."

An administrative agent is a bank or financial firm appointed to handle the day-to-day paperwork and communication for a group of lenders on a loan or credit agreement, acting as the central point for collecting payments, distributing funds, monitoring covenants, and sharing information. For investors, the administrative agent matters because it influences how quickly lenders receive updates, how smoothly repayments and waivers are handled, and how effectively the lending group enforces terms — think of it as a property manager coordinating tasks for multiple owners.

form 8-k regulatory

"see Newmark's forthcoming and expected Securities and Exchange Commission filing on form 8-K."

A Form 8-K is a report that companies file with the government to share important news quickly, such as changes in leadership, major business deals, or financial updates. It matters because it helps investors stay informed about significant events that could affect the company's value or stock price.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEW YORK, April 21, 2026 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark" or "the Company"), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, today announced terms of its amended senior unsecured revolving credit facility (the "Credit Facility").

On April 17, 2026, Newmark entered into an agreement to amend the terms of its Credit Facility, increasing its size by 50% to $900 million and extending the maturity date to April 17, 2030. The Company has the right to increase the Credit Facility to up to $1.1 billion, subject to certain conditions being met. Borrowings under the Credit Facility will bear an interest rate, at Newmark's option, based either on:

(a)  Term SOFR for applicable interest periods as selected by the Company, plus an applicable margin, or
(b)  A base rate to be determined by the Administrative Agent plus an applicable margin.

The applicable margin is initially expected to be 1.625% per annum with respect to Term SOFR borrowings under (a) above and 0.625% with respect to base rate borrowings under (b) above. The applicable margin under both (a) and (b) above will vary depending upon the Company's credit rating. The new agreement amends the terms of Newmark's previous $600 million revolving credit facility maturing on April 26, 2027. Under (a) above, the interest rate on any borrowing under the Credit Facility would have been approximately 5.27% as of market close on April 17, 2026.¹

BofA Securities, Inc. acted as the active lead arranger and bookrunner for the Credit Facility, while Bank of America, N.A. will continue to serve as the Administrative Agent. Other banks participating in the Credit Facility are Capital One, National Association; Citizens Bank, N.A.; KeyBank National Association; Lloyds Bank PLC; National Westminster Bank PLC; PNC Bank, National Association; Regions Bank; Royal Bank of Canada; U.S. Bank National Association; and Wells Fargo Bank, National Association (each as co-syndication agents); Industrial and Commercial Bank of China Limited, New York Branch; BMO Bank N.A.; and The Huntington National Bank (each as co-documentation agents); as well as Comerica Bank, a division of Fifth Third Bank, National Association; and Associated Bank, N.A.

The Company expects to use its Credit Facility for general corporate purposes. For additional information on the Credit Facility, please see Newmark's forthcoming and expected Securities and Exchange Commission filing on form 8-K.

ABOUT NEWMARK
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended December 31, 2025, Newmark generated revenues of nearly $3.3 billion. As of December 31, 2025, Newmark and its business partners together operated from approximately 175 offices with over 9,300 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

DISCUSSION OF FORWARD-LOOKING STATEMENTS ABOUT NEWMARK
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q, or Form 8-K.

¹ Using data from Bloomberg for the "30 Day Average SOFR Secured Overnight Financing Rate".

View original content to download multimedia:https://www.prnewswire.com/news-releases/newmark-upsizes-its-senior-unsecured-credit-facility-by-50-to-900-million-and-extends-maturity-to-april-17-2030-302747572.html

SOURCE Newmark & Company Real Estate, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Newmark (NMRK) announce about its credit facility on April 17, 2026?

Newmark amended its revolving credit facility, increasing it 50% to $900 million and extending maturity to April 17, 2030. According to the company, the facility can be further increased to $1.1 billion subject to conditions.

How will the April 17, 2026 credit facility change affect Newmark's (NMRK) liquidity?

The amendment raises available revolving capacity to $900 million, improving near-term liquidity and flexibility. According to the company, borrowings are intended for general corporate purposes and optional upsizing may add further capacity.

What interest rates and margins apply to Newmark's (NMRK) amended credit facility?

Borrowings can be priced at Term SOFR plus an initial margin of 1.625% or a base rate plus 0.625% margin. According to the company, the margins will vary based on Newmark's credit rating.

What was the implied interest cost for Term SOFR borrowings under Newmark's (NMRK) new facility on April 17, 2026?

The interest rate on Term SOFR borrowings would have been approximately 5.27% as of market close on April 17, 2026. According to the company, that figure reflects market SOFR levels plus the stated margin.

Who are the lead arranger and administrative agent for Newmark's (NMRK) amended credit facility?

BofA Securities acted as active lead arranger and bookrunner; Bank of America will remain Administrative Agent. According to the company, multiple banks and syndication agents participate in the facility.