Bank of China contributes $20 million to $1.25 billion syndicated revolving credit loan to EOP Properties Trust for general corporate purposes in 2005

Project narrative

On August 4, 2005, financial close was reached on a deal in which a syndicate of 26 banks — including Bank of China — entered into a $1,250,000,000 USD revolving credit agreement with EOP Operating Limited Partnership, a Maryland-based real estate investment company. The loan facility is intended for general corporate purposes, including the acquisition and development of commercial properties. The maturity of the loan is four years, with a scheduled maturity date of August 3, 2009, and the interest rate is LIBOR plus an Applicable Margin based on credit ratings. The default rate is 4%. The proceeds were used by the borrower to fund general corporate activities, including property acquisitions and capital expenditures. While Bank of China contributed $15 million USD and $5 million USD equivalent of foreign currency to this loan, other lenders, including Bank of America, N.A., JPMorgan Chase Bank, N.A., UBS Loan Finance LLC, PNC Bank, N.A., Eurohypo AG, New York Branch, U.S. Bank National Association, Deutsche Bank AG, New York Branch, The Bank of Nova Scotia, Wachovia Bank, N.A., Citicorp North America Inc., LaSalle Bank National Association, Morgan Stanley Bank, Credit Suisse, Cayman Islands Branch, Merrill Lynch Bank USA, Mizuho Corporate Bank, Ltd., The Royal Bank of Scotland plc, The Bank of New York, The Governor and Company of the Bank of Ireland, UFJ Bank Limited, The Northern Trust Company, Chang Hwa Commercial Bank, Los Angeles Branch, Malayan Banking Berhad, People's United Bank, First Commercial Bank, Los Angeles Branch, and Hua Nan Commercial Bank, New York Agency also participated.