ICBC contributes $125 million USD to $7 billion USD Revolving Credit Facility to Comcast Corporation for refinancing and general corporate purposes in 2016 (Linked to Record ID#105386, #105387, #105388, #105389, #105390, #105391, #105392, and #105393)

Project narrative

On May 26, 2016, financial close was reached on a deal where a syndicate of 24 banks — including the New York Branch of the Industrial and Commercial Bank of China (ICBC), the New York Branch of the Bank of China (BOC), and the New York Branch of the Agricultural Bank of China (ABC) — entered into a $7,000,000,000 USD syndicated revolving credit facility (RCF) with Comcast Corporation, a Pennsylvania-based media and technology company. The loan has an option to increase its total amount to $10 billion USD. The loan carried a maturity of five years (May 26 2021), with the option for an extension for two more years. The interest rate was based on the LIBOR Rate plus an applicable margin determined by Comcast's debt rating. The proceeds of the loan were used by Comcast Corporation to refinance existing debt and for general corporate purposes, including potential acquisitions or investments. ICBC contributed $125,000,000 USD (Record ID#105385), BOC contributed $85,000,000 USD (Record ID#105386), and ABC contributed $60,000,000 USD (Record ID#105387). Additionally, other lenders contributed as follows: JPMorgan Chase Bank, N.A. ($486,000,000 USD), Citibank, N.A. ($486,000,000 USD), Morgan Stanley Bank, N.A. ($243,000,000 USD), The Bank of Tokyo-Mitsubishi UFJ, Ltd. ($243,000,000 USD), Wells Fargo Bank, N.A. ($486,000,000 USD), Mizuho Bank, Ltd. ($486,000,000 USD), Bank of America, N.A. ($350,000,000 USD), Barclays Bank PLC ($350,000,000 USD), BNP Paribas ($350,000,000 USD), Credit Suisse AG, Cayman Islands Branch ($350,000,000 USD), Deutsche Bank AG, New York Branch ($350,000,000 USD), Goldman Sachs Bank USA ($350,000,000 USD), Royal Bank of Canada ($350,000,000 USD), Sumitomo Mitsui Banking Corporation ($350,000,000 USD), Toronto Dominion (Texas) LLC ($350,000,000 USD), Commerzbank AG, New York Branch ($225,000,000 USD), DNB Capital LLC ($225,000,000 USD), PNC Bank, National Association ($225,000,000 USD), U.S. Bank National Association ($225,000,000 USD), Societe Generale New York Branch ($125,000,000 USD), and The Bank of New York Mellon ($125,000,000 USD) On April 27, 2018, the borrower and the lenders entered into Amendment No. 1 in which they amended certain definitions and covenants. On June 18, 2019, the borrower and a syndicate of 25 banks — including the New York Branch of ICBC, the New York Branch of BOC, and the New York Branch of ABC — entered into the 2nd Amendment in which the RCF commitment amount was increased to $7,611,000,000 USD. The maturity was extended by one year (May 26, 2022). ICBC contributed $200,000,000 USD to this loan (Record ID#105388), BOC contributed $85,000,000 USD (Record ID#105389) and ABC contributed $60,000,000 USD (Record ID#105390). Additionally, other lenders contributed as follows: JPMorgan Chase Bank, N.A. ($486,000,000 USD), Citibank, N.A. ($486,000,000 USD), Morgan Stanley Bank, N.A. ($243,000,000 USD), The Bank of Tokyo-Mitsubishi UFJ, Ltd. ($243,000,000 USD), Wells Fargo Bank, N.A. ($486,000,000 USD), Mizuho Bank, Ltd. ($486,000,000 USD), Bank of America, N.A. ($350,000,000 USD), Barclays Bank PLC ($350,000,000 USD), BNP Paribas ($350,000,000 USD), Credit Suisse AG, Cayman Islands Branch ($350,000,000 USD), Deutsche Bank AG, New York Branch ($350,000,000 USD), Goldman Sachs Bank USA ($225,000,000 USD), Banco Santander, S.A. ($350,000,000 USD), Royal Bank of Canada ($350,000,000 USD), Sumitomo Mitsui Banking Corporation ($350,000,000 USD), Toronto Dominion (Texas) LLC ($350,000,000 USD), Commerzbank AG, New York Branch ($350,000,000 USD), DNB Capital LLC ($225,000,000 USD), PNC Bank, National Association ($225,000,000 USD), U.S. Bank National Association ($225,000,000 USD), Societe Generale New York Branch ($125,000,000 USD), and The Bank of New York Mellon ($125,000,000 USD). On March 30, 2021, financial close was reached on a deal where a syndicate of 30 banks — including the New York Branch of ICBC, the New York Branch of BOC, and the New York Branch of ABC — entered into an $11,000,000,000 USD syndicated revolving credit facility with Comcast Corporation, a Pennsylvania-based media and technology company. The loan carried a maturity of five years, with an option to extend the facility to March 30, 2028. The interest rate was LIBOR plus an applicable margin. ICBC (Record ID#105391), BOC (Record ID#105392), and Agricultural Bank of China (Record ID#105393) participated, the following banks also participated: JPMorgan Chase Bank, N.A., Citibank, N.A., Bank of America, N.A., Mizuho Bank, Ltd., Morgan Stanley Bank, N.A., Wells Fargo Bank, National Association, MUFG Bank, Ltd., Banco Santander, S.A., Barclays Bank PLC, BNP Paribas, Commerzbank AG, Credit Suisse AG, Deutsche Bank AG, Goldman Sachs Bank USA, Royal Bank of Canada, Sumitomo Mitsui Banking Corporation, The Toronto-Dominion Bank, U.S. Bank National Association, DNB Capital LLC, PNC Bank, Societe Generale, ING Bank N.V., Intesa Sanpaolo, National Westminster Bank PLC, The Bank of New York Mellon, The Bank of Nova Scotia, and Truist Bank. In May 2024, the borrower and lenders entered into a new RCF agreement worth $11.8 billion USD.