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BMO, BofA Arrange $3.3B Credit Facility Renewal, Amendment for Jones Lang LaSalle

November 06, 2023, 07:52 AM
Filed Under: Real Estate

Jones Lang LaSalle (JLL) amended its bank credit facility to maintain the company's operating flexibility and support its growth strategy. The borrowing capacity will be $3.3 billion and the new five-year term extends the maturity from April 2026 to November 2028. BMO Capital Markets and BofA Securities were Joint Lead Arrangers for this transaction. In addition, HSBC Securities (USA), JPMorgan Chase Bank and Wells Fargo Securities were Joint Bookrunners for this transaction.

The facility will continue to include 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 are pleased with the success of our latest refinancing and appreciate the continued support of our globally diversified relationship bank group," said Karen Brennan, Chief Financial Officer of JLL. "The extension of the maturity profile of our credit facility provides significant liquidity and flexibility to support our ongoing strategic business operations. By continuing to embed sustainability goals, we further bolster our commitment to shaping the future of real estate for a better world."

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