Debt Warehouse Facilities (Tables)

9 Months Ended

Sep. 30, 2021

Warehouse Facilities


	September 30, 2021			December 31, 2020
($ in millions)	Outstanding Balance		Maximum Capacity	Outstanding Balance	Maximum Capacity
Warehouse Facilities:
LIBOR plus 1.30%, expires November 15, 2021(1)	$	414.4	700.0	144.4	400.0
LIBOR plus 1.30%, expires September 16, 2022(2)	1,658.3		2,000.0	768.9	1,600.0
LIBOR plus 1.30%, expires August 27, 2022(3)	194.8		300.0	195.9	900.0
LIBOR plus 1.60%, expires July 30, 2022(4)	—		400.0	—	—
Fannie Mae ASAP(5) program, SOFR plus 1.25%(6)	—		n/a	128.8	n/a
LIBOR plus 1.50%	—		—	261.6	300.0

Gross warehouse facilities	2,267.5		3,400.0	1,499.6	3,200.0
Debt issuance costs	(1.2)		n/a	(1.2)	n/a
Total warehouse facilities	$	2,266.3	3,400.0	1,498.4	3,200.0

(1) In the third quarter of 2021, JLL extended the Warehouse facility; previously, the facility had a maturity date of September 20, 2021. In the second quarter of 2021, JLL increased the maximum capacity of the Warehouse facility with a decrease to the interest rate; previously, the facility had an interest rate of LIBOR plus 1.40% and a maximum capacity of $400.0 million.

(2) In the third quarter of 2021, JLL extended the Warehouse facility with a temporary increase to the maximum capacity; previously the facility had a maturity date of September 18, 2021 and a temporary maximum capacity of $1,600.0 million which expired on January 31, 2021 and thereafter reverted to its original contractual amount. In the second quarter of 2021, JLL amended the Warehouse facility with a decrease to the interest rate; previously the facility had an interest rate of LIBOR plus 1.40%.

(3) In the third quarter of 2021, JLL extended the Warehouse facility with an increase to the maximum capacity; previously, the facility had a maturity date of August 27, 2021 and a temporary maximum capacity of $900.0 million which expired on January 6, 2021 and thereafter reverted to its original contractual amount. In the second quarter of 2021, JLL amended the Warehouse facility with a decrease to the interest rate; previously the facility had an interest rate of LIBOR plus 1.40%.

(4) In the third quarter of 2021, JLL added a new secured borrowing for $400.0 million under a master repurchase agreement that is scheduled to expire on July 30, 2022. Advances are made at 100% of the loan balance and borrowings are secured by the related warehouse receivables and bear interest at LIBOR plus 1.60%.

(5) As Soon As Pooled ("ASAP") funding program.

(6) JLL amended the Fannie Mae ASAP program interest rate to Secured Overnight Financing Rate ("SOFR") plus 1.25%; previously, the facility had an interest rate of LIBOR plus 1.15%.