Bank of China contributes to debt rescheduling — via a one-year maturity extension in 2019/20 — of a $1.95 billion USD syndicated revolving credit facility to Experian for general corporate purposes (Linked to Record ID#104353, #104354, #104357, #104358, and #104359)

Project narrative

In December 2018, a syndicate of 13 banks — including the Bank of China (BOC) and China Construction Bank Corporation (CCB) — signed a $1.950 billion USD syndicated revolving credit facility (RCF) agreement with Experian plc — a Jersey-incorporated Dublin, Ireland-based multinational data analytics and consumer credit rating scorer company listed on the London Stock Exchange — for general corporate purposes. This loan carried a maturity period of five years with two one-year extension options and a final maturity date in December 2023 (December 2025 if both extensions were exercised) and a variable interest rate. The proceeds were to be used for general corporate purposes, including the financing of acquisitions and the refinancing of other borrowings, and the RCF replaced an existing bank facility maturing in June 2021. Record ID#104353 captures BOC's contribution. Record ID#104354 captures CCB's contribution. In addition to BOC and CCB, the following lenders contributed to the loan syndicate: Barclays Bank Plc, BNP Paribas S.A., BofA Securities, Inc., HSBC Bank Plc, JPMorgan Chase Bank, N.A., Mizuho Bank, MUFG Bank, Banco Santander, S.A., Skandinaviska Enskilda Banken AB (SEB), Société Générale S.A. (SocGen), and Wells Fargo Bank, N.A.. Between April 1, 2019 and March 31, 2020, the lending syndicate — still including BOC and CCB — entered into an amendment agreement with the borrower; in the amendment agreement, the lenders extended the maturity period of the $1.95 billion USD RCF by one year — for a new maturity period of six years — and set December 2024 as the new final maturity date. Record ID#104356 captures BOC's contribution to the debt rescheduling. Record ID#104357 captures CCB's contribution to the debt rescheduling. Between April 1, 2020 and March 31, 2021, the lending syndicate — still including BOC and CCB — entered into an amendment agreement with the borrower; in the amendment agreement, the lenders extended the maturity period of the $1.95 billion USD RCF by one year — for a new maturity period of seven years — and set December 2025 as the new final maturity date. Record ID#104358 captures BOC's contribution to the debt rescheduling. Record ID#104359 captures CCB's contribution to the debt rescheduling. In March 2024, a syndicate of 12 undisclosed banks signed a $1.8 billion syndicated multi-currency RCF with Experian plc for refinancing, general corporate purposes. This loan carried a maturity period of five years, a final maturity date of March 2029, and an interest rate of the relevant compounded reference rate plus the relevant ISDA Credit Adjustment Spread with a margin. The proceeds were to be used as a backstop for Experian's US Commercial Paper programme, included a swingline facility, for general liquidity for general corporate purposes and headroom, and were used to refinance the $1.95 billion USD RCF.