Bank of China contributes to $1 billion USD syndicated revolving credit facility to Belo Corp for general corporate, acquisitions and stock repurchase purposes in 2005

Project narrative

On May 3, 2005, financial close was reached on a deal in which a syndicate of 21 banks — including Bank of China (BoC) — entered into a $1 billion USD syndicated loan agreement with Belo Corp., a Texas-based media company known for operating television stations and providing news services. The loan’s maturity was five years, and the interest rate was LIBOR plus an applicable margin. The proceeds of the loan were used for general corporate purposes, including acquisitions, stock repurchases, commercial paper backup, and funding working capital requirements. This allowed the company to support its operational and strategic financial objectives effectively. While Bank of China contributed to this syndicated loan, the following lenders also participated: JPMorgan Chase Bank, N.A.; Bank of America, N.A.; The Bank of New York; BNP Paribas; SunTrust Bank; Citicorp North America, Inc.; Harris Nesbitt Financing, Inc.; Mizuho Corporate Bank, Ltd.; Sumitomo Mitsui Banking Corporation; Union Bank of California, N.A.; U.S. Bank National Association; Wachovia Bank, N.A.; Wells Fargo Bank, N.A.; Chang Hwa Commercial Bank, Ltd.; E. Sun Commercial Bank, Ltd.; Mellon Bank, N.A.; Hibernia Bank; The Northern Trust Company; and Amegy Bank National Association.