Lennox International obtains $250 million short-term loan facility to fund accelerated share repurchase
Clients Lennox International Inc.
Jones Day represented Lennox International Inc., a global provider of climate control solutions for the heating, air conditioning, and refrigeration markets, in connection with a new $250 million short-term loan facility provided by JPMorgan Chase Bank, N.A. and Morgan Stanley Bank, N.A. The proceeds of the financing will be used to partially fund a $450 million accelerated share repurchase of Lennox’s outstanding common stock. JPMorgan and Morgan Stanley will also act as dealers for the accelerated share repurchase transaction.