Bank of China contributes $50 million USD to $2 billion USD syndicated loan to Stanley Black & Decker for general corporate purposes in 2018 (Linked to Record ID#105776)

Project narrative

On September 12, 2018, Stanley Black & Decker, Inc., a Connecticut-based global provider of tools, storage, and security solutions, secured a $2 billion USD syndicated loan from a group of lenders, led by Citibank, N.A., with a five-year maturity. The facility was structured with an interest rate based on LIBOR plus an applicable margin, reflecting the market conditions and the company's investment-grade credit rating at that time. The proceeds from this loan were allocated for general corporate purposes, supporting Stanley Black & Decker's strategic initiatives across its global operations. Bank of China contributed $50 million USD to this loan (Record ID#105775), while the following lenders also participated: Citibank, N.A. ($163.33 million USD); Bank of America, N.A. ($163.33 million USD); JPMorgan Chase Bank, N.A. ($163.33 million USD); Wells Fargo Bank, National Association ($163.33 million USD); Barclays Bank PLC ($120 million USD); Credit Suisse AG, Cayman Islands Branch ($120 million USD); Deutsche Bank AG New York Branch ($120 million USD); Goldman Sachs Bank USA ($120 million USD); Morgan Stanley Bank, N.A. ($72 million USD); MUFG Bank, Ltd. ($48 million USD); Royal Bank of Canada ($120 million USD); BNP Paribas ($75 million USD); HSBC Bank USA, National Association ($75 million USD); Skandinaviska Enskilda Banken AB (publ) ($75 million USD); The Bank of New York Mellon ($75 million USD); U.S. Bank National Association ($75 million USD); Commerzbank AG, New York Branch ($50 million USD); ING Bank N.V., Dublin Branch ($50 million USD); Standard Chartered Bank ($50 million USD); The Bank of Nova Scotia ($50 million USD); and The Toronto-Dominion Bank, New York Branch ($50 million USD). On April 23, 2020, the borrower and the lenders agreed to enter into an amendment in which they altered certain definitions. On September 8, 2021, financial close was reached on a $2.5 billion USD syndicated loan deal involving a group of banks — including Bank of China — and Stanley Black & Decker, Inc. The loan’s interest rate is based on LIBOR plus an applicable margin, with a maturity date set for September 8, 2026. The proceeds from this loan were designated for Stanley Black & Decker’s general corporate purposes, providing capital for ongoing operational needs. While Bank of China contributed $57,142,857.14 USD to this loan (Record ID#105776), the following lenders also participated: Citibank, N.A.; Bank of America, N.A.; JPMorgan Chase Bank, N.A.; Wells Fargo Bank, National Association; Barclays Bank PLC; Credit Suisse AG, New York Branch; Deutsche Bank AG New York Branch; Goldman Sachs Bank USA; Morgan Stanley Bank, N.A.; MUFG Bank, Ltd.; Royal Bank of Canada; BNP Paribas; HSBC Bank USA, National Association; Skandinaviska Enskilda Banken AB (publ); The Bank of New York Mellon; U.S. Bank National Association; ING Bank N.V., Dublin Branch; Standard Chartered Bank; The Bank of Nova Scotia; The Huntington National Bank; The Toronto-Dominion Bank, New York Branch; and Truist Bank. On September 7, 2022, the borrower and the lenders entered into an agreement in which they changed the reference rate from LIBOR to SOFR.