CoStar Group has borrowed $745 million from its line of credit to fund its acquisition of RentPath, and as a hedge against the tumultuous market. In a regulatory filing Thursday, the real estate data firm said, “The increased cash position… allows for greater financial flexibility in light of current uncertainty in the global markets resulting from the COVID-19 outbreak.” In the filing, CoStar said the proceeds may also fund “other potential strategic acquisitions” and general
source https://therealdeal.com/2020/03/26/costar-draws-745m-from-credit-line/
No comments:
Post a Comment