China Bank of Communications contributes $10 million USD to $750 million USD to Senior Housing Properties Trust for general corporate purposes in 2011

Project narrative

On June 24, 2011, financial close was reached on a $750 million USD syndicated revolving credit facility between a syndicate of banks — including China Bank of Communications — and Senior Housing Properties Trust, a Maryland-based real estate investment trust. This facility includes a $50 million swingline subfacility and a $50 million letter of credit subfacility, with a maturity of five years. The maturity is 4 years and the interest rate applied is based on LIBOR plus an applicable margin. The proceeds from this loan were allocated for general corporate purposes and working capital needs. While Bank of Communications Co., Ltd. contributed $10 million USD to this facility, the following banks also participated with their respective contributions: Wells Fargo Bank, National Association ($90 million); Royal Bank of Canada ($75 million); Bank of America, N.A. ($55 million); Regions Bank ($55 million); Compass Bank ($50 million); RBS Citizens, N.A. ($50 million); PNC Bank, National Association ($50 million); Sumitomo Mitsui Banking Corporation ($35 million); TD Bank, N.A. ($35 million); Capital One, N.A. ($35 million); Comerica Bank ($25 million); Citibank, N.A. ($25 million); UBS AG, Stamford Branch ($25 million); Mega International Commercial Bank Co., Ltd. (New York and Los Angeles branches) ($30 million); Taiwan Cooperative Bank (Seattle Branch) ($15 million); The Bank of East Asia, Ltd. (Los Angeles Branch) ($10 million); Chang Hwa Commercial Bank, Ltd. (New York Branch) ($10 million); Hua Nan Commercial Bank, Ltd. (New York Agency) ($10 million); Bank of Taiwan (Los Angeles Branch) ($10 million); Chinatrust Commercial Bank Ltd. (New York Branch) ($10 million); First Hawaiian Bank ($10 million); Jefferies Finance LLC ($10 million); United Overseas Bank Limited (Los Angeles Agency) ($10 million); and Morgan Stanley Bank, N.A. ($5 million). On June 24, 2013, the borrower and some of the lenders entered into an amendment which they extended the term of the credit to January 18. Bank of Communications' contribution is terminated and repaid.