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Overview

ICBC contributes $40 million USD to a $ 7 billion USD syndicated revolving credit to Pfizer Inc. for general corporate purposes (Linked to Record ID#103181)

Commitments (Constant USD, 2023)$41,358,852
Commitment Year•2013Country of Activity•United StatesDirect Recipient Country of Incorporation•United StatesSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Nov 1, 2013
Last repayment (originally scheduled)
Oct 31, 2018

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

  • Industrial and Commercial Bank of China (ICBC)

Cofinancing agencies

Private Sector

  • Banco Santander, S.A. (Santander Group) (formerly Banco Santander Central Hispano, S.A.)
  • Bank of America, N.A.
  • Barclays Bank PLC
  • BNP Paribas S.A.
  • Citibank, N.A.
  • Credit Suisse AG
  • Deutsche Bank AG
  • Goldman Sachs Bank USA
  • HSBC (Hong Kong and Shanghai Banking Corporation)
  • Intesa Sanpaolo S.P.A. (formerly Cariplo/Banca Intesa/BCI)
  • JPMorgan Chase Bank, N.A. (Chase Bank, formerly the Chase Manhattan Bank)
  • Morgan Stanley Bank, N.A.
  • Northern Trust Corporation
  • Royal Bank of Canada (RBC)
  • Société Générale S.A. (SocGen or Societe Generale)
  • Standard Chartered Bank PLC
  • U.S. Bancorp

State-owned Banks

  • Royal Bank of Scotland (RBS)

State-owned Commercial Banks

  • Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

  • Pfizer, Inc.

Loan description

BOC and ICBC contribute to $7 billion syndicated revolving credit to Pfizer Inc. for general corporate purposes in 2013

Interest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

In November 2013, financial close was reached on a deal in which a syndicate of 20 banks — including Bank of China (BOC) and Industrial and Commercial Bank of China (ICBC) — entered into a $7 billion USD syndicated revolving credit loan agreement with Pfizer Inc. — American multinational pharmaceutical and biotechnology company — for general corporate purposes. This loan carried a maturity period of 5 years. Bank of China contributed $40 million to the loan (See Record ID#103181). ICBC contributed $40 million to the loan (See Record ID#103182). In addition, the following lenders contributed the respective amounts to the loan: Citi Bank ($591 million), Bank of America ($591 million), Barclays ($591 million), Credit Suisse ($591 million), Deutsche Bank ($591 million), HSBC ($591 million), JP Morgan Chase ($591 million), Morgan Stanley ($591 million), Royal Bank of Canada ($591 million), BNP Paribas ($230 million), Santander Group ($230 million), Royal Bank of Scotland ($230 million), Northern Trust ($80 million), Standard Chartered ($80 million), US Bancorp ($80 million), Intesa Sanpaolo ($40 million) and Societie Generale ($40 million).