Jones Lang LaSalle Incorporated Prices Public Offering of$400,000,000 6.875% Senior Notes due 2028

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Jones Lang LaSalle Incorporated (NYSE: JLL) has announced a $400.0 million aggregate principal amount of 6.875% Senior Notes due 2028. The net proceeds will be used for general corporate purposes, including the repayment of outstanding borrowings. The Offering is expected to close on November 13, 2023, and is being managed by Wells Fargo Securities, J.P. Morgan Securities, BofA Securities, BMO Capital Markets, and HSBC Securities. The Offering is made pursuant to an effective shelf registration statement filed with the SEC.

CHICAGO, Nov. 8, 2023 /PRNewswire/ -- Jones Lang LaSalle Incorporated (NYSE: JLL) ("JLL" or the "Company") today announced that it has priced an underwritten public offering (the "Offering") of $400.0 million aggregate principal amount of 6.875% Senior Notes due 2028 (the "Notes"). The Company expects that the closing of the Offering will occur on November 13, 2023, subject to the satisfaction of customary closing conditions.

JLL expects to use the net proceeds of the Offering for general corporate purposes, including the repayment of outstanding borrowings under its existing credit facility.

Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, BofA Securities, Inc., BMO Capital Markets Corp., and HSBC Securities (USA) Inc. are acting as joint book-running managers for the Offering. Barclays Capital Inc., NatWest Markets Plc, PNC Capital Markets LLC, ING Financial Markets LLC, U.S. Bancorp Investments, Inc., ANZ Securities, Inc., Capital One Securities, Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., SG Americas Securities, LLC and Standard Chartered Bank are acting as co-managers for the Offering.

The Offering of the Notes is being made pursuant to an effective shelf registration statement (including a prospectus and preliminary prospectus supplement) (File No. 333-274557) filed with the U.S. Securities and Exchange Commission (the "SEC"). These documents are available at no charge by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, JLL, any underwriter or any dealer participating in the Offering will arrange to send the prospectus and the preliminary prospectus supplement (or, when available, the prospectus supplement) if requested by contacting JLL Investor Relations or Wells Fargo Securities, LLC, Attn: WFS Customer Service, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, by email at wfscustomerservice@wellsfargo.com, or by telephone at 1-800-645-3751; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, or by telephone at 1-866-803-9204; BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department, or by email at dg.prospectus_requests@bofa.com, or by telephone at 1-800-294-1322; BMO Capital Markets Corp., 151 West 42nd Street, New York, NY 10036, Attn: Debt Capital Markets Syndicate, or by email at IGSyndicate@bmo.com, or by telephone at 1-866-864-7760; or HSBC Securities (USA) Inc., Attn: Transaction Management Group, 452 Fifth Avenue, New York, NY 10018, or by telephone at 1-866-811-8049.

This press release shall not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, the Notes or any other security. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation or sale would be unlawful.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. You can generally identify forward-looking statements by the use of forward-looking terminology such as "believe," "will," "may," "could," "project," "expect," "estimate," "assume," "intend," "anticipate," "target," "plan" and other words and terms of similar meaning and expression in connection with any discussion of future operating or financial performance, although not all forward-looking statements contain such terms. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements. These statements are likely to relate to, among other things, statements about the expected timing of completion of the Offering and the intended use of proceeds from the proposed Offering and are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes to differ materially from current expectations. No forward-looking statement can be guaranteed. Forward-looking statements in this press release should be evaluated together with the many risks and uncertainties that affect JLL's business and market, particularly those identified in the cautionary statement and risk factors discussion in the prospectus, preliminary prospectus supplement, prospectus supplement and JLL's Annual Report on Form 10-K for the year ended December 31, 2022, as updated by JLL's subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the SEC. The forward-looking statements included in this press release are made only as of the date of this document and except as otherwise required by applicable law, JLL undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise.

About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 105,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. 

For more information: 

JLL Investor Relations
Phone: 1-312-252-8943
Email: JLLInvestorRelations@jll.com

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SOURCE JLL-IR

FAQ

What is the purpose of Jones Lang LaSalle's (NYSE: JLL) $400.0 million public offering of Senior Notes due 2028?

The purpose of the offering is to raise funds for general corporate purposes, including the repayment of outstanding borrowings.

Who is managing the underwritten public offering of the Notes?

The Offering is being managed by Wells Fargo Securities, J.P. Morgan Securities, BofA Securities, BMO Capital Markets, and HSBC Securities.

Where can I find the documents related to the Offering?

The documents are available at no charge by visiting EDGAR on the SEC website at www.sec.gov or by contacting JLL Investor Relations or any underwriter or dealer participating in the Offering.

When is the expected closing date of the Offering?

The closing of the Offering is expected to occur on November 13, 2023, subject to the satisfaction of customary closing conditions.