Bank of China Contributes $100 million USD to $3.5 billion USD syndicated loan to Whirlpool Corporation in 2022 for general corporate and debt refinancing purposes (Linked to Record ID#105229)

Project narrative

On August 6, 2019, financial close was reached on a deal in which a syndicate of several banks — including Bank of China — entered into a $3.5 billion USD syndicated loan agreement with Whirlpool Corporation, Whirlpool Canada Holding Co., Whirlpool Europe B.V., Whirlpool Global B.V., and Whirlpool UK Appliances Limited. Whirlpool Corporation is a Delaware-based multinational manufacturer and marketer of home appliances. This loan was provided for general corporate purposes and refinancing existing debts. The maturity of the loan is five years, with a maturity date of August 6, 2024, and an interest rate based on the Eurocurrency Base Rate plus an applicable margin based on debt ratings. The proceeds were used by the borrower for general corporate purposes and refinancing existing debts. While Bank of China contributed $100,000,000 USD to this loan (Record ID#105229), the following lenders also participated: JPMorgan Chase Bank, N.A. ($270,000,000), Citibank, N.A. ($270,000,000), BNP Paribas ($270,000,000), Mizuho Bank, Ltd. ($270,000,000), Wells Fargo Bank, National Association ($270,000,000), Bank of America, N.A. ($185,000,000), Goldman Sachs Bank USA ($185,000,000), HSBC Bank USA, N.A. ($185,000,000), ING Bank N.V. Dublin Branch ($185,000,000), MUFG Bank, Ltd. ($185,000,000), Banco Santander, S.A., New York Branch ($185,000,000), UniCredit Bank AG, New York Branch ($185,000,000), Deutsche Bank AG New York Branch ($100,000,000), The Bank of Nova Scotia ($100,000,000), U.S. Bank National Association ($100,000,000), Credit Industriel et Commercial ($65,000,000), Credit Suisse (Switzerland) Ltd. ($65,000,000), Itau Unibanco S.A. ($65,000,000), The Northern Trust Company ($65,000,000), Societe Generale ($65,000,000), Sumitomo Mitsui Banking Corporation ($65,000,000), and UBI Banca ($65,000,000). On May 2, 2022, the company entered into an agreement to replace the 2019 loan agreement with a new agreement. The proceeds were used by the borrower for general corporate purposes and refinancing existing debts. The loan matures on May 3, 2027, and bears interest based on SOFR plus an applicable margin. While Bank of China contributed $100,000,000 USD to this loan (Record ID#105230), the following lenders also participated: JPMorgan Chase Bank, N.A. ($266,000,000), BNP Paribas ($266,000,000), Citibank, N.A. ($266,000,000), Mizuho Bank, Ltd. ($266,000,000), Wells Fargo Bank, National Association ($266,000,000), Banco Santander, S.A., New York Branch ($185,000,000), Bank of America, N.A. ($185,000,000), Goldman Sachs Bank USA ($185,000,000), ING Bank N.V. Dublin Branch ($185,000,000), MUFG Bank, Ltd. ($185,000,000), Sumitomo Mitsui Banking Corporation ($185,000,000), UniCredit Bank AG, New York Branch ($185,000,000), Deutsche Bank AG New York Branch ($100,000,000), Standard Chartered Bank ($100,000,000), The Bank of Nova Scotia ($100,000,000), U.S. Bank National Association ($100,000,000), Credit Industriel et Commercial, New York Branch ($65,000,000), Credit Suisse (Switzerland) Ltd. ($65,000,000), Intesa Sanpaolo S.p.A., New York Branch ($65,000,000), Societe Generale ($65,000,000), The Northern Trust Company ($65,000,000), and Itau Unibanco S.A., Miami Branch ($50,000,000).