Bank of China contributes $75 million USD to $1.5 billion syndicated revolving credit facility to Rockwell Automation for general corporate purposes in 2022 (Linked to Record ID#106703 and #106687)

Project narrative

On March 24, 2015, financial close was reached on a deal in which a syndicate of 16 banks—including Bank of China, Chicago Branch—entered into a $1,000,000,000 USD syndicated loan agreement with Rockwell Automation, Inc., a Milwaukee, Wisconsin-based company specializing in industrial automation and information technology systems. The maturity of the loan is 5 years, and the interest rate is LIBOR plus an applicable margin. The proceeds of this loan were used by the borrower for general corporate purposes. While the Bank of China, Chicago Branch contributed $45,000,000 USD to this loan (Record ID#106703), the following lenders also participated: JPMorgan Chase Bank, N.A. ($85,000,000 USD); Bank of America, N.A. ($85,000,000 USD); Goldman Sachs Bank USA ($85,000,000 USD); BMO Harris Bank N.A. ($65,000,000 USD); The Bank of New York Mellon ($65,000,000 USD); Citibank, N.A. ($65,000,000 USD); Deutsche Bank AG New York Branch ($65,000,000 USD); The Northern Trust Company ($65,000,000 USD); PNC Bank, National Association ($65,000,000 USD); U.S. Bank National Association ($65,000,000 USD); Wells Fargo Bank, National Association ($65,000,000 USD); Comerica Bank ($45,000,000 USD); ING Bank N.V., Dublin Branch ($45,000,000 USD); Lloyds Bank PLC ($45,000,000 USD); and Toronto Dominion (New York) LLC ($45,000,000 USD). On December 12, 2016, the two parties entered into an agreement in which they altered certain definitions. On November 13, 2018, financial close was reached on a $1,250,000,000 USD syndicated loan agreement involving a syndicate of 13 banks, including the Bank of China, Chicago Branch. The borrower, Rockwell Automation, Inc., is a multinational corporation headquartered in Milwaukee, Wisconsin, specializing in industrial automation and information technology systems. The loan has a maturity of 5 years, and the interest rate is LIBOR plus an applicable margin. The use of proceeds was for general corporate purposes. While the Bank of China, Chicago Branch contributed $85,000,000 USD to this loan (Record ID#106687), the following lenders also participated: Bank of America, N.A. ($150,000,000 USD); Goldman Sachs Bank USA ($150,000,000 USD); Wells Fargo Bank, National Association ($150,000,000 USD); The Bank of New York Mellon ($85,000,000 USD); BMO Harris Bank N.A. ($85,000,000 USD); Citibank, N.A. ($85,000,000 USD); Deutsche Bank AG New York Branch ($85,000,000 USD); PNC Bank, National Association ($85,000,000 USD); The Toronto-Dominion Bank, New York Branch ($85,000,000 USD); U.S. Bank National Association ($85,000,000 USD); Comerica Bank ($60,000,000 USD); and ING Bank N.V., Dublin Branch ($60,000,000 USD). On June 29, 2022, financial close was reached on a $1,500,000,000 USD syndicated revolving credit agreement involving a syndicate of 15 banks, including the Bank of China, Chicago Branch. The borrower, Rockwell Automation, Inc., is a global leader in industrial automation and digital transformation, headquartered in Milwaukee, Wisconsin. The five-year loan has an interest rate based on the Secured Overnight Financing Rate (SOFR) plus an applicable margin. The proceeds of the facility were allocated for general corporate purposes. While the Bank of China, Chicago Branch contributed $75,000,000 USD to this loan (Record ID#106704), the following lenders also participated: Bank of America, N.A. ($155,000,000 USD); Goldman Sachs Bank USA ($155,000,000 USD); Wells Fargo Bank, National Association ($155,000,000 USD); BMO Harris Bank N.A. ($90,000,000 USD); Citibank, N.A. ($90,000,000 USD); Deutsche Bank AG New York Branch ($90,000,000 USD); HSBC Bank USA, National Association ($90,000,000 USD); Morgan Stanley Bank, N.A. ($90,000,000 USD); PNC Bank, National Association ($90,000,000 USD); The Bank of New York Mellon ($90,000,000 USD); The Toronto-Dominion Bank, New York Branch ($90,000,000 USD); U.S. Bank National Association ($90,000,000 USD); Comerica Bank ($75,000,000 USD); and ING Bank N.V., Dublin Branch ($75,000,000 USD).