CHICAGO, July 1, 2024
/PRNewswire/ -- Jones Lang LaSalle Incorporated (NYSE:
JLL) ("JLL" or the "Company"), announced today the establishment of
its inaugural commercial paper program. The program allows JLL
(through one of its wholly-owned subsidiaries) to issue up to
$2.5 billion of short-term,
unsecured, and unsubordinated commercial paper notes (the
"Notes").
The commercial paper program further supports the Company's
strategy to strengthen its balance sheet, following its renewed
credit facility and public bond issuance announcements in
2023. The commercial paper program will provide another source of
short-term capital for the Company and further diversifies JLL's
balance sheet. JLL intends to use the proceeds of the Notes for
general corporate purposes, including the repayment of outstanding
borrowings under the Company's existing credit facility.
The Notes will be sold in the U.S. commercial paper market under
customary market terms. The Notes will be issued by Jones Lang LaSalle Finance B.V., a wholly-owned
subsidiary of JLL, and are fully and unconditionally guaranteed by
the Company.
The Notes and the Guarantee to be offered under the commercial
paper program have not been and will not be registered under the
Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent
registration or an applicable exemption from registration
requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy the Notes under JLL's
commercial paper program.
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 JLL's
financial growth and balance sheet strategy and the intended use of
proceeds from the Notes to be issued under JLL's commercial paper
program 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 JLL's Annual Report on Form 10-K for the year ended December 31, 2023, as updated by JLL's subsequent
Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and
other filings with the U.S. Securities and Exchange Commission. 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 contained
herein to reflect any change in expectations or results, or any
change in events.
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
$20.8 billion and operations in over
80 countries around the world, our more than 108,000 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 WAYSM. 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