The Chicago-headquartered real estate services firm Jones Lang LaSalle Inc. (JLL) (NYSE: JLL) has launched its inaugural commercial paper program.
According to the company, up to $2.5 billion of short-term, unsecured, and unsubordinated commercial paper notes will be sold in the U.S. commercial paper market by Jones Lang LaSalle Finance B.V., a wholly owned subsidiary of JLL. The notes are fully and unconditionally guaranteed by the company.
“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,” said the company in a press statement. “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.”
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