Bank of China contributes to $2.5 billion syndicated revolving credit facility to Thermo Fisher Scientific Inc. for general corporate purposes in 2016 (Linked to Record ID#105706 and #105708)

Project narrative

On July 25, 2013, financial close was reached on a deal in which a syndicate of 22 banks — including Bank of China — entered into a $1.5 billion USD revolving credit facility agreement with Thermo Fisher Scientific Inc., a Delaware-based multinational corporation specializing in scientific research, laboratory instruments, and related services. The loan’s maturity was set to five years, concluding in July 2018, with an interest rate based on the London Interbank Offered Rate (LIBOR) plus an applicable margin. The proceeds from this facility were designated for general corporate purposes, providing Thermo Fisher with flexibility in meeting various operational, working capital, and financing needs. While Bank of China contributed $25 million USD to this facility (Record ID#105706), the following lenders also participated: Bank of America, N.A., Barclays Bank PLC, JPMorgan Chase Bank, N.A., The Bank of Tokyo-Mitsubishi UFJ, Ltd., Royal Bank of Scotland PLC, BNP Paribas, Credit Suisse AG (Cayman Islands Branch), Deutsche Bank AG (New York Branch), Goldman Sachs Bank USA, HSBC Bank USA, Morgan Stanley Bank, N.A., Citibank, N.A., Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation, U.S. Bank National Association, The Bank of New York Mellon, The Bank of Nova Scotia, ING Bank N.V. (Dublin Branch), Intesa Sanpaolo S.p.A., KeyBank National Association, and Nordea Bank Finland Plc (New York Branch). On February 23, 2015, some lenders and the borrower entered into an incremental facility amendment in which they increased the commitment amount of $500,000,000. No Chinese banks were involved. Then, on July 1, 2016, financial close was reached on a deal in which a syndicate of 21 banks — including Bank of China — entered into a $2.5 billion USD revolving credit facility with Thermo Fisher Scientific Inc. The loan’s maturity was set to five years with an interest rate based on the London Interbank Offered Rate (LIBOR) plus an applicable margin. While Bank of China contributed to this loan (Record ID#105677), the following banks also participated in the syndicate: Barclays Bank PLC, JPMorgan Chase Bank, N.A., Goldman Sachs Bank USA, HSBC Bank USA, Mizuho Bank, Ltd., Morgan Stanley Bank, N.A., The Bank of Tokyo-Mitsubishi UFJ, Ltd., BNP Paribas, Citibank, N.A., Credit Suisse AG (Cayman Islands Branch), Deutsche Bank AG (New York Branch), Sumitomo Mitsui Banking Corporation, U.S. Bank National Association, The Bank of New York Mellon, The Bank of Nova Scotia, ING Bank N.V. (Dublin Branch), KeyBank National Association, Nordea Bank Finland Plc (New York Branch), and Wells Fargo Bank, National Association. On January 7, 2022, financial close was reached on a deal in which a syndicate of 22 banks — including Bank of China — entered into a $5 billion USD revolving credit facility with Thermo Fisher Scientific Inc. The loan’s maturity was set to five years with an interest rate based on SOFR plus an applicable margin. While Bank of China contributed to the loan (Record ID#105708) the following lenders also participated: Barclays Bank PLC, Citibank, N.A., JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., Goldman Sachs Bank USA, HSBC Bank USA, National Association, Morgan Stanley Bank, N.A., The Bank of Tokyo-Mitsubishi UFJ, Ltd., BNP Paribas, Credit Suisse AG (Cayman Islands Branch), Deutsche Bank AG New York Branch, Sumitomo Mitsui Banking Corporation, U.S. Bank, National Association, Bank of China, The Bank of New York Mellon, The Bank of Nova Scotia, ING Bank N.V. (Dublin Branch), KeyBank National Association, Nordea Bank Finland Plc, and Wells Fargo Bank, National Association.