Cushman & Wakefield, which is under water on its $3.2 billion debt load, could be headed toward a default if its Covid-battered earnings continue to decline. The Chicago-based real estate services firm is the most highly leveraged company among its major competitors, thanks to a pile of debt loaded on by the private equity firm TPG Capital in the lead-up to Cushman’s 2018 initial public offering. A big part of that financing — Cushman’s $2.7
source https://therealdeal.com/2020/10/27/cushmans-3b-debt-load-poses-default-risk/
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