Agricultural Bank of China contributes to 364-Day $1.5 billion USD loan to Keurig Dr. Pepper for general corporate purposes in 2021 (Linked to Record ID#105403 and #105405)

Project narrative

On March 24, 2021, financial close was reached on a deal where Keurig Dr Pepper Inc. (KDP) — a leading beverage company headquartered in Burlington, Massachusetts—entered into a $1.5 billion USD syndicated loan agreement with a group of 27 banks—including ICBC and Agricultural Bank of China Ltd— for general corporate purposes. The loan, which has a maturity of one year, was based on the LIBOR rate plus an applicable margin. The proceeds of the loan were used by KDP for general corporate purposes, including working capital management and operational expenses. While ICBC (Record ID#105403) and Agricultural Bank of China (Record ID#105404) contributed to this loan, the following lenders also participated: Bank of America, N.A., Goldman Sachs Bank USA, JPMorgan Chase Bank, N.A., Wells Fargo Bank, National Association, BNP Paribas, Mizuho Bank, Ltd., Morgan Stanley MUFG Loan Partners, LLC, Coöperatieve Rabobank U.A., New York Branch, Intesa Sanpaolo S.p.A., New York Branch, HSBC Bank USA, National Association, Sumitomo Mitsui Banking Corporation, Truist Bank, The Toronto-Dominion Bank, New York Branch, U.S. Bank National Association, Citibank N.A., Credit Agricole Corporate and Investment Bank, Credit Suisse AG, New York Branch, Royal Bank of Canada, Mediobanca International (Luxembourg) S.A., People’s United Bank, N.A., Credit Suisse AG, Fifth Third Bank, PNC Bank, N.A., and Banco Bilbao Vizcaya Argentaria, S.A. On February 23, 2022, financial close was reached on a deal where Keurig Dr Pepper Inc. (KDP) entered into a $4 billion USD syndicated revolving credit agreement with a group of 25 banks — including Agricultural Bank of China Ltd., New York Branch — for general corporate purposes, including refinancing existing debt and supporting ongoing operations. This loan replaced the 364 credit agreement. The loan had a maturity of five years and was based on the Term SOFR rate plus an applicable margin. While Agricultural Bank of China Ltd. contributed to this loan (Record ID#105405). the following lenders also participated: JPMorgan Chase Bank, N.A., Bank of America, N.A., Goldman Sachs Bank USA, BNP Paribas, Intesa Sanpaolo S.p.A., New York Branch, Mizuho Bank, Ltd., Morgan Stanley Bank, N.A., Sumitomo Mitsui Banking Corporation, Truist Bank, Wells Fargo Bank, National Association, Banco Bilbao Vizcaya Argentaria, S.A., New York Branch, Citibank N.A., Coöperatieve Rabobank U.A., New York Branch, Credit Agricole Corporate and Investment Bank, HSBC Bank Canada, HSBC Bank USA, National Association, Royal Bank of Canada, The Toronto-Dominion Bank, New York Branch, U.S. Bank National Association, Credit Suisse AG, New York Branch, Fifth Third Bank, National Association, PNC Bank, National Association, The Huntington National Bank, and People's United Bank, National Association.