China Bank of Communications contributes $60 million to $5 billion USD syndicate revolving facility and debt rescheduling to Phillips 66 for general corporate purposes in 2022 (Linked to Record ID#106009, #106010, #106011, #106012, #106013, #106014, #106015, #106016, #106008, #106018 and #106024)

Project narrative

On February 22, 2012, financial close was reached on a deal in which a syndicate of 29 banks — including the Bank of Communications — entered into a $4 billion USD syndicated loan agreement with Phillips 66, a Delaware-based energy manufacturing and logistics company. The maturity of the loan is five years, and the interest rate is LIBOR plus an applicable margin. The proceeds of the Loans will be used for general corporate purposes, including as support of commercial paper issued or to be issued by the Borrower and its Subsidiaries. While the Bank of Communications contributed to this loan (Record ID#106008), the following banks also participated: JPMorgan Chase Bank, N.A. (Administrative Agent, Swing Line Lender, and Issuing Bank), The Royal Bank of Scotland PLC, Bank of America, N.A., Citibank, N.A., The Bank of Tokyo-Mitsubishi UFJ, Ltd., DNB Bank ASA, Grand Cayman Branch, Royal Bank of Canada, Credit Suisse AG (Cayman Islands), The Bank of Nova Scotia, BNP Paribas, Lloyds TSB Bank PLC, Mizuho Corporate Bank, Ltd., PNC Bank, National Association, Sumitomo Mitsui Banking Corporation, Deutsche Bank AG New York Branch, Barclays Bank PLC, Bayerische Landesbank New York Branch, UniCredit Bank AG New York Branch, Export Development Canada, The Bank of New York Mellon, U.S. Bank National Association, Compass Bank, Comerica Bank, The Northern Trust Company, Chang Hwa Commercial Bank, Ltd., New York Branch, First Commercial Bank New York Branch, National Bank of Kuwait S.A.K., Grand Cayman Branch, and Taiwan Cooperative Bank Los Angeles Branch. On June 10, 2013, the borrower and the lenders entered into 1st amendment in which they extended the maturity to June 8, 2018, reduce interest rates based on the pricing grid and increased the commitments to $4.5 billion USD. China Bank of Communications contributed $12 million USD in this upsizing is recorded in Record ID#106009 and the rescheduling is recorded in Record ID#106010. On December 10, 2014, the borrower and the lenders entered into 2nd amendment in which they extended the maturity to December 10, 2019, amended the interest rates based on the pricing grid and increased the overall commitments to $5 billion USD. China Bank of Communications contributed $20 million USD in this upsizing is recorded in Record ID#106011 and the rescheduling is recorded in Record ID#106012. On Oct 3, 2016, the borrower and the lenders entered into 3rd amendment in which they extended the maturity to Oct 6, 2021, and amended the interest rates based on the pricing grid. China Bank of Communications contribution to the rescheduling is recorded in Record ID#106013. On July 30, 2019, financial close was reached on a $5 billion USD amended and restated syndicated loan agreement with Phillips 66, a Delaware-based energy manufacturing and logistics company. The Bank of Communications, along with other lenders, participated in this loan. The loan's maturity extends to July 30, 2024, with an interest rate based on LIBOR plus an applicable margin. The proceeds of the Loans will be used for general corporate purposes While the Bank of Communications contributed $30 million USD to this loan (Record ID#106014), ICBC contributed $70 million USD (Record ID#106015), and Bank of China contributed $70 million (Record ID#106016), the following lenders also participated with their respective commitments: Mizuho Bank, Ltd. ($234 million USD), MUFG Bank, Ltd. ($234 million USD), The Toronto-Dominion Bank, New York Branch ($234 million USD), JPMorgan Chase Bank, N.A. ($234 million USD), Barclays Bank PLC ($234 million USD), BNP Paribas ($234 million USD), Bank of America, N.A. ($234 million USD), Citibank, N.A. ($234 million USD), Commerzbank AG, New York Branch ($234 million USD), Credit Suisse AG, Cayman Islands Branch ($234 million USD), Goldman Sachs Bank USA ($234 million USD), Royal Bank of Canada ($234 million USD), Sumitomo Mitsui Banking Corporation ($234 million USD), The Bank of Nova Scotia, Houston Branch ($234 million USD), Wells Fargo Bank, N.A. ($234 million USD), BMO Harris Bank N.A. ($95.5 million USD), Branch Banking and Trust Company ($95.5 million USD), Canadian Imperial Bank of Commerce, New York Branch ($95.5 million USD), Credit Agricole Corporate and Investment Bank ($95.5 million USD), HSBC Bank USA, National Association ($95.5 million USD), PNC Bank, National Association ($95.5 million USD), Sun Trust Bank ($95.5 million USD), The Northern Trust Company ($95.5 million USD), U.S. Bank National Association ($95.5 million USD), UniCredit Bank AG, New York Branch ($95.5 million USD), DBS Bank Ltd. ($70 million USD), First Abu Dhabi Bank USA N.V. ($70 million USD), Intesa Sanpaolo S.p.A. New York Branch ($70 million USD), Lloyds Bank Corporate Markets PLC ($70 million USD), KeyBank National Association ($50 million USD), and Comerica Bank ($35 million USD). On June 23, 2022, financial close was reached on a deal in which a syndicate of banks — including the Bank of Communications, ICBC, and the Bank of China — entered into a $5 billion USD syndicated loan agreement with Phillips 66, a Delaware-based energy manufacturing and logistics company. The loan has a maturity of five years, with an interest rate based on SOFR plus an applicable margin. While the Bank of Communications, NY Branch contributed $60 million USD (Record ID#106017), ICBC contributed $132 million USD (Record ID#106018), and the Bank of China contributed $132 million USD to this loan (Record ID#106024), the following lenders also participated: Mizuho Bank, Ltd. ($269 million USD), MUFG Bank, Ltd. ($269 million USD), The Toronto-Dominion Bank, New York Branch ($269 million USD), Bank of America, N.A. ($269 million USD), Barclays Bank PLC ($269 million USD), BNP Paribas ($269 million USD), Citibank, N.A. ($269 million USD), Goldman Sachs Bank USA ($269 million USD), JPMorgan Chase Bank, N.A. ($269 million USD), Royal Bank of Canada ($269 million USD), The Bank of Nova Scotia, Houston Branch ($269 million USD), Sumitomo Mitsui Banking Corporation ($269 million USD), Truist Bank ($269 million USD), Canadian Imperial Bank of Commerce, New York Branch ($132 million USD), Commerzbank AG, New York Branch ($132 million USD), Credit Agricole Corporate and Investment Bank ($132 million USD), HSBC Bank USA, National Association ($132 million USD), PNC Bank, National Association ($132 million USD), UniCredit Bank AG, New York Branch ($132 million USD), U.S. Bank National Association ($132 million USD), Comerica Bank ($100 million USD), The Northern Trust Company ($75 million USD), Arvest Bank ($50 million USD), and Lloyds Bank PLC ($30 million USD).