CoStar Group has priced an offering of $1 billion in aggregate principal amount of 2.8% senior unsecured notes. The notes are exempt from registration. CoStar expects the sale of the notes to end on July 1, 2020.
The notes are guaranteed by each of the company’s existing and future domestic subsidiaries that adhere to the Amended and Restated Credit Facility of $750 million.
The company is also looking to restate and extend its existing $750 million credit facility to 2025. CoStar will look to use the net proceeds to repay all outstanding borrowings under the current credit facility, as well as fund a portion of the costs of any future acquisitions, and other general purposes.
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