ICBC contributes $100 million USD to $1.5 billion syndicated revolving credit facility to Estée Lauder Companies Inc. in 2016 for general corporate purposes (Linked to Record ID#105928, #105927, #105930, #105931 and #105932)

Project narrative

On July 15, 2014, financial close was reached on a deal in which a syndicate of 13 banks—including ICBC—entered into a $1 billion USD syndicated loan agreement with The Estée Lauder Companies Inc., a multinational manufacturer and marketer of skincare, makeup, fragrance, and hair care products headquartered in New York, USA. The loan matures in five years, expiring on July 15, 2019, with an option for up to two additional years. The interest rate is based on LIBOR plus an applicable margin based on the credit rating. The proceeds of the loan will be used by The Estée Lauder Companies Inc. for general corporate purposes as determined by the company, including support for its subsidiaries' operations and potential expansion initiatives in its core business areas. While ICBC contributed $72,500,000 USD to this loan (Record ID#105927), the following lenders also participated: JPMorgan Chase Bank, N.A. ($120,000,000 USD); Citibank, N.A. ($120,000,000 USD); BNP Paribas ($120,000,000 USD); Bank of America, N.A. ($105,000,000 USD); The Bank of Tokyo-Mitsubishi UFJ, Ltd. ($105,000,000 USD); Goldman Sachs Bank USA ($72,500,000 USD); HSBC Bank USA, National Association ($72,500,000 USD); U.S. Bank National Association ($72,500,000 USD); Banco Bilbao Vizcaya Argentaria, S.A. New York Branch ($35,000,000 USD); The Northern Trust Company ($35,000,000 USD); Royal Bank of Canada ($35,000,000 USD); and State Street Bank and Trust Company ($35,000,000 USD). On May 28, 2015, the lender and the borrowers entered into Amendment No. 1 in which they extended the maturity by one year — July 15, 2020. ICBC’s participation is recorded in Record ID#105928. On October 3, 2016, financial close was reached on a deal in which a syndicate of 13 banks—including ICBC—entered into a $1.5 billion USD syndicated loan agreement with The Estée Lauder Companies Inc., a multinational manufacturer and marketer of skincare, makeup, fragrance, and hair care products headquartered in New York, USA. The loan matures in five years, expiring on October 3, 2021, with an option for up to two additional years. The interest rate is based on LIBOR plus an applicable margin, as stipulated in the agreement. The proceeds of the loan will be used by The Estée Lauder Companies Inc. for general corporate purposes as determined by the company, including support for its subsidiaries' operations and potential expansion initiatives in its core business areas. While ICBC contributed $100,000,000 USD to this loan (Record ID#105929), the following banks also participated: JPMorgan Chase Bank, N.A. ($160,000,000 USD); Citibank, N.A. ($160,000,000 USD); BNP Paribas ($160,000,000 USD); Bank of America, N.A. ($160,000,000 USD); The Bank of Tokyo-Mitsubishi UFJ, Ltd. ($160,000,000 USD); Goldman Sachs Bank USA ($100,000,000 USD); HSBC Bank USA, N.A. ($100,000,000 USD); U.S. Bank N.A. ($100,000,000 USD); Royal Bank of Canada ($100,000,000 USD); Societe Generale Corporate & Investment Banking ($100,000,000 USD); Banco Bilbao Vizcaya Argentaria, S.A. New York Branch ($50,000,000 USD); and The Northern Trust Company ($50,000,000 USD). On October 26, 2018, financial close was reached on a deal in which a syndicate of 13 banks—including ICBC—entered into a $1.5 billion USD syndicated loan agreement with The Estée Lauder Companies Inc., a multinational manufacturer and marketer of skincare, makeup, fragrance, and hair care products headquartered in New York, USA. The loan matures in five years, expiring on October 26, 2023, with an option for up to two additional years. The interest rate is based on LIBOR plus an applicable margin, as stipulated in the agreement. The proceeds of the loan will be used by The Estée Lauder Companies Inc. for general corporate purposes as determined by the company, including support for its subsidiaries' operations and potential expansion initiatives in its core business areas. While ICBC contributed $100,000,000 USD to this loan (Record ID#105930), the following banks also participated: JPMorgan Chase Bank, N.A. ($160,000,000 USD); Citibank, N.A. ($160,000,000 USD); BNP Paribas ($160,000,000 USD); Bank of America, N.A. ($160,000,000 USD); MUFG Bank, Ltd. ($160,000,000 USD); Goldman Sachs Bank USA ($100,000,000 USD); HSBC Bank USA, N.A. ($100,000,000 USD); U.S. Bank N.A. ($100,000,000 USD); Royal Bank of Canada ($100,000,000 USD); Societe Generale Corporate & Investment Banking ($100,000,000 USD); Banco Bilbao Vizcaya Argentaria, S.A. New York Branch ($50,000,000 USD); and The Northern Trust Company ($50,000,000 USD). On October 22, 2021, financial close was reached on a deal in which a syndicate of 15 banks—including ICBC and Agricultural Bank of China—entered into a $2.5 billion USD syndicated loan agreement with The Estée Lauder Companies Inc., a multinational manufacturer and marketer of skincare, makeup, fragrance, and hair care products headquartered in New York, USA. The loan matures in five years, expiring on October 22, 2026, with an option for up to two additional years. The interest rate is based on an applicable benchmark rate plus an applicable margin, as stipulated in the agreement. The proceeds of the loan will be used by The Estée Lauder Companies Inc. for general corporate purposes as determined by the company, including support for its subsidiaries' operations and potential expansion initiatives in its core business areas. While ICBC contributed $150 million USD (Record ID#105931) and Agricultural Bank of China (Record ID#105932) contributed $75 million USD to this loan, the following banks also participated: JPMorgan Chase Bank, N.A. ($260,000,000 USD); Citibank, N.A. ($260,000,000 USD); BNP Paribas ($260,000,000 USD); Bank of America, N.A. ($260,000,000 USD); MUFG Bank, Ltd. ($260,000,000 USD); Goldman Sachs Bank USA ($150,000,000 USD); HSBC Bank USA, N.A. ($150,000,000 USD); U.S. Bank N.A. ($150,000,000 USD); Royal Bank of Canada ($150,000,000 USD); Société Générale ($150,000,000 USD); Banco Bilbao Vizcaya Argentaria, S.A. New York Branch ($75,000,000 USD); The Northern Trust Company ($75,000,000 USD); and DBS Bank Ltd. ($75,000,000 USD).