JLL Maintains Strong Financial Profile and Liquidity with Renewed Credit Facility

Rhea-AI Summary

On April 15, 2021, Jones Lang LaSalle (NYSE:JLL) announced an amendment to its bank credit facility, extending the maturity from May 2023 to April 2026 while maintaining a borrowing capacity of $2.75 billion. This adjustment supports the company's growth strategy and operational flexibility. The facility now includes sustainability-linked incentives aimed at reducing greenhouse gas emissions and obtaining sustainability certification for large JLL-occupied buildings by 2030, reflecting its commitment to environmental initiatives.

Positive

• Extended credit facility maturity to April 2026.
• Maintained borrowing capacity of $2.75 billion.
• Incorporates sustainability-linked incentives for greenhouse gas reduction.

Negative

• None.

CHICAGO, April 15, 2021 /PRNewswire/ -- Jones Lang LaSalle Incorporated (NYSE:JLL) has amended its bank credit facility to maintain the company's operating flexibility and support its growth strategy. The borrowing capacity remains at $2.75 billion and the new five-year term extends the maturity from May 2023 to April 2026.

In addition, reflecting JLL's commitment to advancing its environmental, social and governance (ESG) initiatives and Building a Better Tomorrow strategy, the facility includes incentives linked to achieving certain sustainability goals. These measures include: 1) reducing greenhouse gas emissions consistent with JLL's previously announced Science Based Targets and 2) ensuring JLL-occupied buildings over 10,000 square feet obtain sustainability certification by 2030.

"We appreciate the continued support of our globally diversified relationship bank group and are proud to be an early adopter in the U.S. aligning our sustainability commitments with our financing arrangement," said Karen Brennan, Chief Financial Officer of JLL.   

BMO Capital Markets Corp. and BofA Securities, Inc. were Joint Lead Arrangers for this transaction.  In addition, HSBC Securities (USA) Inc., JPMorgan Chase Bank, N.A. and Wells Fargo Securities, LLC were Joint Bookrunners for this transaction.

About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit ir.jll.com.

Connect with us
https://www.linkedin.com/company/jll
https://www.facebook.com/jll  
https://twitter.com/jll  

Contact: Gayle Kantro
Phone: +1 312 228 2795
Email: Gayle.Kantro@am.jll.com

 

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SOURCE JLL-IR

FAQ

What is the significance of JLL's amended credit facility on April 15, 2021?

JLL's amended credit facility extends its maturity to April 2026, ensuring ongoing financial flexibility and support for growth.

How much is JLL's borrowing capacity after the credit facility amendment?

JLL's borrowing capacity remains at $2.75 billion.

What are the sustainability goals linked to JLL's credit facility?

The sustainability goals include reducing greenhouse gas emissions and obtaining sustainability certification for buildings over 10,000 square feet by 2030.

Who arranged the credit facility amendment for JLL?

BMO Capital Markets Corp. and BofA Securities, Inc. were the Joint Lead Arrangers for the transaction.