Bank of China contributes to €250 million EUR syndicated revolving credit facility for Altana AG for general and refinancing purposes

Project narrative

Prior to or during June 2021, a syndicate of eight banks — including the Bank of China (BOC) — entered into a €250 million EUR syndicated revolving credit facility (RCF) agreement with Altana AG — a German specialty chemicals company headquartered in Wesel — for as-needed, general and refinancing purposes. Loan terms included a maturity of five years with a two-year extension period and an unknown floating interest rate with 40 basis points and Environmental, Social, and Governance (ESG)-linked parameters. The eight banks participating in the syndicate were UniCredit (coordinator), Commerzbank, Deutsche Bank, Helaba, LBBW, BNP Paribas, BOC, and JPMorgan. The initial margin of the credit line was at a pre-pandemic level, reflecting Altana’s earning power and stability. This loan was a renewal of a previous €250 million EUR syndicated loan, expiring in 2022. The new RCF was not used during the 2021 fiscal year.