Bank of China contributes to a €8 billion EUR sustainability-linked revolving credit facility to Airbus for refinancing purposes (Linked to Record ID#102959)

Project narrative

On July 5, 2022, a syndicate of 38 banks — including the Bank of China (BOC) and the Industrial and Commercial Bank of China (ICBC) — entered into a €8 billion EUR sustainability-linked revolving credit facility (RCF) agreement with Airbus SE — an European (Societas Europaea) multinational aerospace company and major aircraft manufacturer with its corporate seat in Amsterdam, the Netherlands, but headquartered in Leiden, the Netherlands, albeit with its operational headquarters in Blagnac, France; it is registered with the Dutch Commercial Register and listed on Bolsa de Madrid, Euronext Paris, and Frankfurt Stock Exchange — for refinancing purposes. This loan carried a maturity period of five years with two one-year extension options at the lenders' consent. As a sustainability-linked loan (SLL), this loan measured the borrower's performance against two annual Key Performance Indicators (KPIs) related to environmental ratings and health and safety, with a positive or negative margin adjustment based on whether the borrower met those KPIs. The proceeds were to be used by the borrower to replace a €6 billion EUR sustainability-linked RCF signed in 2020 and due to mature in October 2024, which was then cancelled. Record ID#102958 captures BOC's contribution. Record ID#102959 captures ICBC's contribution. In addition to BOC and ICBC, the following lenders contributed to the loan syndicate: UniCredit S.p.A., BNP Paribas S.A., Crédit Agricole Corporate and Investment Bank (CACIB), Deutsche Bank, Banco Santander S.A., Bank of America, Barclays Bank Plc, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), Citigroup, HSBC Bank Plc, JPMorgan Chase Bank N.A., Lloyds Bank, Mizuho Bank, Natixis, RBC Capital Markets, Sumitomo Mitsui Banking Corporation (SMBC), Société Générale S.A. (SocGen), Australia and New Zealand Banking Group (ANZ), Bayerische Landesbank (BayernLB), Crédit Industriel et Commercial (CIC), Commerzbank AG, DBS Bank, DZ Bank AG, Goldman Sachs Group Inc., ING Group N.V., Morgan Stanley, MUFG Bank, Ltd., NatWest Markets Plc, Wells Fargo Bank N.A., Credit Suisse AG, la Banque postale, Skandinaviska Enskilda Banken AB (SEB), Standard Chartered Bank Plc, State Street Bank, Toronto-Dominion Bank, and Westpac Banking Corporation. Deutsche Bank served as facility agent. UniCredit served as documentation agent. Santander, BNP Paribas, and CACIB served as environmental, social and governance (ESG) coordinators. Santander, BNP Paribas, CACIB, Deutsche Bank, and UniCredit served as coordinators. BOC, ICBC, BBVA, Bank of America, Barclays, Citigroup, HSBC, JPMorgan, Lloyds, Mizuho, Natixis, RBC Capital Markets, SocGen, and SMBC served as bookrunners and mandated lead arrangers. ANZ, BayernLB, Commerzbank, CIC, DBS Bank, DZ Bank, Goldman Sachs, ING, MUFG, Morgan Stanley, NatWest Markets, and Wells Fargo served as mandated lead arrangers. Credit Suisse, Banque postale, SEB, Standard Chartered, State Street Bank, TD Bank, and Westpac served as lead arrangers.