ICBC contributes $170 million USD to a $1.5 billion USD syndicated revolving credit facility to The President and Fellows of Harvard College for unspecified purposes

Project narrative

In December 2022, a syndicate of an unspecified number of banks — including the New York Branch of the Industrial and Commercial Bank of China (ICBC) — entered into a $1.5 billion USD syndicated revolving credit facility (RCF) agreement with The President and Fellows of Harvard College (Harvard Corporation) — the governing board with oversight responsibility for the financial affairs for Harvard University, the private Ivy League research university in Cambridge, Massachusetts — for unspecified purposes. This RCF carried a maturity period of three years, a final maturity date of December 2025, and was unsecured; it was a "renewal" of an existing $1.5 billion USD syndicated RCF from March 2021. ICBC committed $170,000,000 USD to the new RCF. As of June 30, 2023, there was no outstanding drawn balancing against the RCF. As of June 30, 2024, there was no outstanding drawn balancing against the RCF. In September 2024, the lenders extended the maturity period of the RCF by two years — a new maturity period of five years — for a new final maturity date of December 2027.