Jones Lang LaSalle Incorporated (NYSE:JLL) Files An 8-K Entry into a Material Definitive AgreementItem 8.01Entry into a Material Definitive Agreement
On May 16, 2018, Jones Lang LaSalle Incorporated (the “Company”), Jones Lang LaSalle Finance B.V. and certain of the Company’s other subsidiaries, as guarantors, executed Amendment No. 1 ("Amendment No. 1") to the Second Amended and Restated Multicurrency Credit Agreement dated as of June 21, 2016 (as amended, the “Credit Agreement”) with a syndicate of lenders. Bank of Montreal serves as Administrative Agent, BMO Capital Markets Corp. and Bank of America Merrill Lynch served as Joint Lead Arrangers and Joint Bookrunners. In addition, Barclays, NatWest Bank Plc, Wells Fargo Bank, N.A., HSBC Securities (USA) INC. and JPMorgan Chase Bank, N.A. served as Joint Lead Arrangers.
The borrowing capacity under the Credit Agreement remains at $2.75 billion. The features to the Credit Agreement, as amended, provide for:
(i) an extension of the maturity date of the Credit Agreement from June 2021 to May 2023;
(ii) a reduction in pricing range from LIBOR plus 0.875% to 1.35% (based on gross Cash Flow
Leverage Ratio), with current pricing at LIBOR plus 1.00%; and
(iii) the reset of certain thresholds within Permitted Adjustments as of the Closing Date.
All obligations under the Credit Agreement continue to be guaranteed by the Company and certain of its subsidiaries as guarantors. The Credit Agreement also contains customary affirmative and negative covenants and events of default.
Capitalized terms not otherwise defined in this Form 8-K have the meanings provided in the Credit Agreement.
The foregoing summary of the Credit Agreement is qualified in its entirety by reference to the full text of the Credit Agreement, attached in marked form as Annex I to Amendment No. 1, which is filed as Exhibit 10.1 and incorporated in this Item 8.01 by reference.
Item 8.01Other Information.
On May 17, 2018, we announced the execution of the Credit Agreement. A copy of the news release is filed as Exhibit99.1 to this Current Report on Form8-K.
Item 8.01Financial Statements and Exhibits
(d)Exhibits
See Exhibit Index.
EXHIBIT INDEX
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Exhibit No. |
Description |
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Amendment No. 1 to Credit Agreement, dated as of May 16, 2018, amending that certain Second Amended and Restated Multicurrency Credit Agreement, dated as of June 21, 2016, by and among Jones Lang LaSalle Finance B.V., the Guarantors party thereto, the Lenders party thereto, and Bank of Montreal, as Administrative Agent |
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News Release issued by Jones Lang LaSalle Incorporated on May 17, 2018 announcing the closing on the Second Amended and Restated Multicurrency Credit Agreement, as amended by Amendment No. 1 to Credit Agreement, dated as of May 16, 2018 |
JONES LANG LASALLE INC ExhibitEX-10.1 2 amendmentno1.htm EXHIBIT 10.1 AMENDMENT NO. 1 amendmentno1 AMENDMENT NO. 1 TO CREDIT AGREEMENT This AMENDMENT NO. 1 TO CREDIT AGREEMENT is dated as of May 16,…To view the full exhibit click here
About Jones Lang LaSalle Incorporated (NYSE:JLL)
Jones Lang LaSalle Incorporated (JLL) is a financial and professional services firm specializing in real estate. The Company operates through four business segments: Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and LaSalle. JLL provides real estate services (RES) through three business segments: the Americas, EMEA and Asia Pacific. Its range of real estate services include agency leasing, capital markets, corporate finance, energy and sustainability services, facility management outsourcing (occupiers), investment management, lease administration, logistics and supply chain management, mortgage origination and servicing, project and development management / construction, property management (investors), real estate investment banking / merchant banking, research, strategic consulting and advisory services, tenant representation, transaction management, valuations and value recovery and receivership services. The Company also offers property tax advisory services.
