NEWMARK GROUP, INC. 8-K

What Happened
Newmark Group, Inc. announced on April 17, 2026 that it entered into a Third Amended and Restated Credit Agreement that replaces its prior credit agreement and provides a $900 million unsecured senior revolving credit facility (with an option to increase up to $1.1 billion subject to conditions). The new facility extends the maturity date to April 17, 2030 and will be administered by Bank of America, N.A. The company said it may use borrowings for general corporate purposes.

Key Details

• Facility size: $900.0 million unsecured senior revolving credit facility; incremental increase to $1.1 billion available subject to conditions.
• Maturity: April 17, 2030 (extended from prior agreement).
• Interest: Borrowings at borrower’s option of (a) Term SOFR + applicable margin or (b) a base rate + applicable margin. Using Bloomberg 30‑day average SOFR, the SOFR-based rate would have been ≈5.27% as of market close on April 17, 2026.
• Margins: Initial margins are 1.625% for Term SOFR borrowings and 0.625% for base rate borrowings; margins may vary by credit rating (SOFR margin range 1.125%–1.875%; base rate margin range 0.125%–0.875%).
• Fees & covenants: Agreement includes customary upfront/arrangement and unused facility fees and contains financial covenants (minimum interest coverage and maximum leverage ratio) unchanged from the prior credit agreement.

Why It Matters
This amendment secures multi-year committed liquidity for Newmark through 2030 and preserves borrowing flexibility via a large unsecured revolving line. The stated interest mechanics and margin bands give investors a clear view of potential borrowing costs (illustrated by the ~5.27% SOFR-based rate on April 17, 2026). Financial covenants remain in place and are unchanged, so covenant tests that could affect the company’s flexibility remain consistent with the prior agreement.