Reported Earlier, Jones Lang LaSalle Unveils $2.5B Commercial Paper Initiative for Corporate Flexibility

 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.