Bank of China contributes $35 million USD to $1.5 billion revolving credit facility to Interpublic Group of Companies for general corporate purposes in 2017 (Linked to Record ID#106049, #106051, #106052 and #106053)

Project narrative

On July 18, 2008, The Interpublic Group of Companies, Inc. (IPG), an American multinational advertising and marketing services company headquartered in New York City, signed a $1 billion loan agreement with a group of banks. The loan agreement was amended on April 23, 2010, May 31, 2011 and November 6, 2012 with no Chinese bank involvement. On December 12, 2013, financial close was reached on a deal in which a syndicate of 18 banks—including Bank of China—entered into a $1,000,000,000 USD syndicated loan agreement with The Interpublic Group of Companies, Inc. (IPG), an American multinational advertising and marketing services company headquartered in New York City. The loan's maturity was set for December 12, 2018, and the interest rate was LIBOR plus an applicable margin. The proceeds were used by the borrower for general corporate purposes, including acquisition financing and operational expenses. Bank of China contributed $25,000,000 USD to this loan (Record ID#106049). In addition, the following lenders contributed the respective amounts to the loan syndicate: Citibank, N.A. ($152,500,000 USD), Banco Bilbao Vizcaya Argentaria, S.A. ($63,000,000 USD), Bank of America, N.A. ($127,500,000 USD), The Bank of Tokyo-Mitsubishi UFJ, Ltd. ($51,100,000 USD), Barclays Bank PLC ($63,000,000 USD), Danske Bank A/S ($25,000,000 USD), HSBC Bank USA, National Association ($63,000,000 USD), ING Bank N.V., Dublin Branch ($45,000,000 USD), Intesa Sanpaolo S.p.A. ($25,000,000 USD), JPMorgan Chase Bank, N.A. ($377,500,000 USD), Lloyds Bank plc ($45,000,000 USD), Morgan Stanley Bank, N.A. ($61,650,000 USD), Morgan Stanley Senior Funding, Inc. ($15,000,000 USD), RBS Citizens, N.A. ($45,000,000 USD), U.S. Bank National Association ($45,000,000 USD), and Wells Fargo Bank, National Association ($45,000,000 USD). On October 20, 2015, financial close was reached on a deal in which a syndicate of 18 banks—including Bank of China—entered into a $1,000,000,000 USD syndicated loan agreement with The Interpublic Group of Companies, Inc. (IPG), an American multinational advertising and marketing services company headquartered in New York City. The loan's maturity date was set for October 20, 2020, and the interest rate was LIBOR plus an applicable margin. The proceeds were used by the borrower for general corporate purposes, including acquisition financing and operational expenses. Bank of China contributed $25,000,000 USD to this loan (Record ID#106050). In addition, the following lenders contributed the respective amounts to the loan syndicate: Citibank, N.A. ($202,750,000 USD), Banco Bilbao Vizcaya Argentaria, S.A. ($58,000,000 USD), Bank of America, N.A. ($127,750,000 USD), The Bank of Tokyo-Mitsubishi UFJ, Ltd. ($51,100,000 USD), Barclays Bank PLC ($40,000,000 USD), Danske Bank A/S ($25,000,000 USD), Citizens Bank, N.A. ($40,000,000 USD), HSBC Bank USA, National Association ($58,000,000 USD), ING Bank N.V., Dublin Branch ($58,000,000 USD), Intesa Sanpaolo S.p.A. ($25,000,000 USD), JPMorgan Chase Bank, N.A. ($327,750,000 USD), Lloyds Bank plc ($40,000,000 USD), Morgan Stanley Bank, N.A. ($61,650,000 USD), Morgan Stanley Senior Funding, Inc. ($15,000,000 USD), PNC Bank, National Association ($40,000,000 USD), U.S. Bank National Association ($40,000,000 USD), and Wells Fargo Bank, National Association ($40,000,000 USD). On October 25, 2017, financial close was reached on a deal in which a syndicate of 19 banks—including Bank of China—entered into a $1,500,000,000 USD syndicated loan agreement with The Interpublic Group of Companies, Inc. (IPG), an American multinational advertising and marketing services company headquartered in New York City. The loan's maturity date was October 25, 2022, and the interest rate was LIBOR plus an applicable margin. The proceeds were used by the borrower for general corporate purposes, including potential acquisition financing and operational expenses. Bank of China contributed $35,000,000 USD to this loan (Record ID#106051). In addition, the following lenders contributed the respective amounts to the loan syndicate: Citibank, N.A. ($205,000,000 USD), JPMorgan Chase Bank, N.A. ($205,000,000 USD), Bank of America, N.A. ($205,000,000 USD), Morgan Stanley Bank, N.A. ($77,650,000 USD), Morgan Stanley Senior Funding, Inc. ($4,850,000 USD), The Bank of Tokyo-Mitsubishi UFJ, Ltd. ($62,500,000 USD), Banco Bilbao Vizcaya Argentaria, S.A. ($75,000,000 USD), BNP Paribas ($75,000,000 USD), HSBC Bank USA, National Association ($75,000,000 USD), ING Bank N.V., Dublin Branch ($75,000,000 USD), Lloyds Bank plc ($75,000,000 USD), Wells Fargo Bank, National Association ($75,000,000 USD), Citizens Bank, N.A. ($50,000,000 USD), PNC Bank, National Association ($50,000,000 USD), U.S. Bank National Association ($50,000,000 USD), Danske Bank A/S ($35,000,000 USD), Goldman Sachs Bank USA ($35,000,000 USD), and Intesa Sanpaolo S.p.A. ($35,000,000 USD). On November 1, 2019, financial close was reached on a deal in which a syndicate of 18 banks—including Bank of China—entered into a $1,500,000,000 USD syndicated loan agreement with The Interpublic Group of Companies, Inc. (IPG), an American multinational advertising and marketing services company headquartered in New York City. The loan's maturity date was set for November 1, 2024, and the interest rate was LIBOR plus an applicable margin. The proceeds were used by the borrower for general corporate purposes, including acquisition financing and operational expenses. Bank of China contributed $35,000,000 USD to this loan (Record ID#106052). In addition, the following lenders contributed the respective amounts to the loan syndicate: Citibank, N.A. ($215,000,000 USD), JPMorgan Chase Bank, N.A. ($265,000,000 USD), Bank of America, N.A. ($215,000,000 USD), Morgan Stanley Bank, N.A. ($85,000,000 USD), MUFG Bank, Ltd. ($65,000,000 USD), Banco Bilbao Vizcaya Argentaria, S.A. ($78,000,000 USD), BNP Paribas ($78,000,000 USD), HSBC Bank USA, National Association ($78,000,000 USD), ING Bank N.V., Dublin Branch ($78,000,000 USD), Wells Fargo Bank, National Association ($78,000,000 USD), Citizens Bank, N.A. ($50,000,000 USD), PNC Bank, National Association ($50,000,000 USD), U.S. Bank National Association ($50,000,000 USD), Danske Bank A/S ($35,000,000 USD), Goldman Sachs Bank USA ($35,000,000 USD), Intesa Sanpaolo S.p.A. ($35,000,000 USD), and Lloyds Bank Corporate Markets plc ($25,000,000 USD). On July 28, 2020, the parties entered into an amendment in which they changed certain definitions. On November 1, 2021, financial close was reached on a deal in which a syndicate of 18 banks—including Bank of China—entered into a $1,500,000,000 USD revolving credit facility agreement with The Interpublic Group of Companies, Inc. (IPG), an American multinational advertising and marketing services company headquartered in New York City. The loan's maturity date was set for November 1, 2026, and the interest rate was Term SOFR plus an applicable margin. The proceeds were intended for general corporate purposes, including acquisition financing and operational expenses. Bank of China contributed $35,000,000 USD to this loan (Record ID#106053) In addition, the following lenders contributed the respective amounts to the loan syndicate: Citibank, N.A. ($215,000,000 USD), JPMorgan Chase Bank, N.A. ($265,000,000 USD), Bank of America, N.A. ($215,000,000 USD), Morgan Stanley Bank, N.A. ($86,000,000 USD), MUFG Bank, Ltd. ($65,000,000 USD), Banco Bilbao Vizcaya Argentaria, S.A., New York Branch ($76,500,000 USD), BNP Paribas ($76,500,000 USD), HSBC Bank USA, National Association ($76,500,000 USD), ING Bank N.V., Dublin Branch ($76,500,000 USD), U.S. Bank National Association ($76,500,000 USD), Wells Fargo Bank, National Association ($76,500,000 USD), Citizens Bank, N.A. ($50,000,000 USD), Intesa Sanpaolo S.p.A., New York Branch ($50,000,000 USD), PNC Bank, National Association ($50,000,000 USD), Danske Bank A/S ($35,000,000 USD), and Absa Bank Limited ($25,000,000 USD).