Unsecured credit

Newmark Expands and Extends Senior Unsecured Credit Facility and Improves Pricing

NEW YORK, March 14, 2022 /PRNewswire/ — Newmark Group, Inc. (Nasdaq: NMRK) (“Newmark” or “the Company”)a leading full-service commercial real estate company, today announced the terms of its amended credit agreement.

At March 10, 2022Newmark has entered into an agreement to amend the terms of its senior unsecured revolving credit facility (the “Credit Facility”), increasing its size to $600 million and extending the due date to March 10, 2025. Borrowings under the Credit Facility will bear interest, at the Corporation’s option, based on either the

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

The applicable margin should initially be 1.50% per annum with respect to SOFR Term Loans under (a) above and 0.50% with respect to Base Rate Loans under (b) above. The margin applicable under points (a) and (b) above will vary according to the credit rating of the Company. The new agreement amends and improves the terms of Newmark’s previous agreement $465 million revolving credit facility maturing on February 26, 2023which had an interest rate of LIBOR plus 1.75% per annum immediately prior to the new deal.

BofA Securities, Inc. acted as lead arranger and active bookrunner for the credit facility, while Bank of America, NA will continue to act as administrative agent. The other banks named as co-lead arrangers and co-bookrunners for the credit facility are Capital One, National Association; Citizens Bank, North America; Fifth Third Bank, National Association; Goldman Sachs Bank United States; National KeyBank Association; PNC Capital Markets LLC; Regions Capital Markets, a division of Regions Bank; and the National Association of American Banks. The other banks participating in the credit facility are BMO Harris Bank NA; Comerica Bank; UMB Bank, North America; Wells Fargo Bank, National Association; Associated Bank, NA; and BankUnited, NA

The Company intends to use its credit facility for general corporate purposes. For more information on the credit facility, please see Newmark’s upcoming and expected filing with the Securities and Exchange Commission on Form 8-K.

ABOUT NEWMARK
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a global leader in commercial real estate, seamlessly powering every phase of the property lifecycle. 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 enterprises. Combining the platform’s global reach with market intelligence in established and emerging real estate markets, Newmark delivers superior service to clients across all industries. Newmark generated revenues in excess of $2.9 billion for the year ending December 31, 2021. Newmark company-owned offices, together with its business partners, operate from approximately 160 offices with over 6,200 professionals worldwide. To learn more, visit nmrk.com or follow @newmark.

DISCUSSION OF FORWARD-LOOKING STATEMENTS ABOUT NEWMARK
Statements contained herein 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 regarding the effects of the COVID-19 pandemic on the Company’s business, results, financial condition, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the Actual impact may differ, possibly significantly, from what is currently expected. Except as required by law, Newmark assumes no obligation to update 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 filings with the Securities and Exchange Commission, including, but not limited to , risk factors and special note on forward-looking statements. Forward-looking information set forth in these documents and any updates to these risk factors and special note on forward-looking information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.

SOURCENewmark Group, Inc.