Bank of China (Geneva Branch) contributes to debt rescheduling — via a one-year maturity extension — of a $1.1 billion USD revolving credit facility to AMS Ameropa Marketing and Sales for working capital and refinancing purposes

Project narrative

In June 2022, a syndicate of 22 banks — including the Geneva Branch of the Bank of China (BOC) — entered into a $1.1 billion USD revolving credit facility (RCF) agreement with AMS Ameropa Marketing and Sales AG — a wholly-owned subsidiary of Swiss privately-owned international agribusiness Ameropa Holding AG — for working capital and refinancing purposes. This RCF was divided into three tranches: an uncommitted $138 million USD facility ('Tranche A') with a maturity period of 364 days with three possible 364-day extensions at the lenders' discretion; a committed $343 million USD facility ('Tranche B') with a maturity period of 364 days with three possible 364-day extensions at the lenders' discretion; and a committed $619 million USD facility ('Tranche C') with a maturity period of three years with one possible 364-day extension at the lenders' discretion. The proceeds of this RCF were to be used by the borrower to refinance a $750 million USD RCF and for working capital purposes. Record ID#100946 captures BOC Geneva Branch's contribution. In addition to BOC Geneva Branch, the following lenders contributed to the loan syndicate: Coöperative Rabobank U.A., ING Bank N.V., UniCredit Bank AG, Credit Suisse (Switzerland) Ltd, Commerzbank Aktiengesellschaft (Commerzbank AG), Raiffeisen Bank International AG, Natixis, Société Générale S.A. (SocGen), Erste Group Bank AG, HSBC Trinkaus & Burkhardt GmbH, CA Indosuez (Switzerland) SA, Landesbank Hessen-Thüringen Girozentrale (Helaba), GarantiBank International N.V., Zürcher Kantonalbank (ZKB), Basellandschaftliche Kantonalbank (BLKB), Basler Kantonalbank (BKB), KBC Bank N.V., Banque Cantonale Vaudoise (BCV), Arab Banking Corporation S.A. (Bank ABC), AKA Ausfuhrkredit-Gesellschaft mbH, and DZ Bank AG. Rabobank, ING Bank, and UniCredit Bank served as the active original mandated lead arrangers and bookrunners. ING Bank served as facility agent and UniCredit Bank served as security agent. Credit Suisse (Switzerland) Ltd, Commerzbank AG, Raiffeisen Bank International, and Natixis served as mandated lead arrangers and bookrunners. BOC Geneva Branch, SocGen, Erste Group, HSBC Trinkaus & Burkhardt, CA Indosuez (Switzerland), and Helaba served as mandated lead arrangers. GarantiBank International and ZKB served as lead arrangers. BLKB, BKB, KBC Bank, BCV, Bank ABC, AKA Ausfuhrkredit-Gesellschaft, and DZ Bank served as arrangers. This loan was oversubscribed during syndication. Then, in June 2023, the entire 22-bank syndicate — still including BOC Geneva Branch — entered into an agreement with AMS Ameropa Marketing and Sales AG to extend the maturity period of the entire $1.1 billion USD RCF by one year (a new maturity of two years for Tranche A and B and four years for Tranche C). Record ID#100947 captures BOC's contribution to the maturity extension.