Agricultural Bank of China contributes to $1.5 billion USD 364-day syndicated revolving credit facility to the Walt Disney Company for general corporate purposes in 2016 (Linked to Record ID#106927 and #106928 and #106930)

Project narrative

On March 15, 2013, financial close was reached on a deal in which a syndicate of 29 banks — including Bank of China and ICBC— entered into a $1.5 billion USD syndicated loan agreement with The Walt Disney Company, a multinational entertainment conglomerate headquartered in Burbank, California. The loan had a maturity of 364 days with an option for the borrower to extend for an additional year. The interest rate was LIBOR plus an applicable margin. The proceeds of the loan were used to support commercial paper borrowings and for other general corporate purposes. While Bank of China (Record ID#106919) and ICBC (Record ID#106920) contributed an undisclosed amount to this loan, the following lenders also participated: CITIBANK, N.A., JPMorgan Chase Bank, N.A., BNP Paribas, Deutsche Bank AG New York Branch, Bank of America, N.A., Credit Suisse AG Cayman Islands Branch, Goldman Sachs Bank USA, HSBC Bank USA, Mizuho Corporate Bank (USA), Morgan Stanley Bank, N.A., The Bank of Tokyo-Mitsubishi UFJ, Ltd., Royal Bank of Canada, The Royal Bank of Scotland plc, Wells Fargo Bank, N.A., Lloyds TSB Bank plc, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, SunTrust Bank, U.S. Bank National Association, DBS Bank Ltd., ING Capital LLC, Intesa Sanpaolo S.p.A., Sovereign Bank, N.A., State Street Bank and Trust Company, Svenska Handelsbanken AB, Toronto Dominion (Texas) LLC, The Bank of New York Mellon, and The Northern Trust Company. On March 14, 2014, financial close was reached on a deal in which a syndicate of 31 banks — including Bank of China, Los Angeles Branch; ICBC, New York Branch; and Agricultural Bank of China, New York Branch — entered into a $1.5 billion USD syndicated loan agreement with The Walt Disney Company, a multinational entertainment conglomerate headquartered in Burbank, California. The loan had a maturity of 364 days, with an option for the borrower to extend for an additional year. The interest rate was LIBOR plus an applicable margin. The proceeds of the loan were used to support commercial paper borrowings and for other general corporate purposes. While Bank of China (Record ID#106921), ICBC (Record ID#106922), and Agricultural Bank of China (Record ID#106923) contributed to this loan, the following lenders also participated: CITIBANK, N.A., JPMorgan Chase Bank, N.A., BNP Paribas, Deutsche Bank AG New York Branch, Bank of America, N.A., Credit Suisse AG Cayman Islands Branch, Goldman Sachs Bank USA, HSBC Bank USA, Mizuho Bank (USA), Morgan Stanley Bank, N.A., The Bank of Tokyo-Mitsubishi UFJ, Ltd., Royal Bank of Canada, The Royal Bank of Scotland plc, Wells Fargo Bank, N.A., Lloyds Bank plc, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, SunTrust Bank, U.S. Bank National Association, DBS Bank Ltd., ING Capital LLC, Intesa Sanpaolo S.p.A., Sovereign Bank, N.A., State Street Bank and Trust Company, Svenska Handelsbanken AB, Toronto Dominion (Texas) LLC, The Bank of New York Mellon, and The Northern Trust Company. On March 13, 2015, financial close was reached on a deal in which a syndicate of 33 banks — including Bank of China, Los Angeles Branch; ICBC, New York Branch; and Agricultural Bank of China, New York Branch — entered into a $1.5 billion USD syndicated loan agreement with The Walt Disney Company, a multinational entertainment conglomerate headquartered in Burbank, California. The loan had a maturity of 364 days, with an option for the borrower to extend for an additional year. The interest rate was LIBOR plus an applicable margin. The proceeds of the loan were used to support commercial paper borrowings and for other general corporate purposes. While Bank of China (Record ID#106924, ICBC (Record ID#106925), and Agricultural Bank of China (Record ID#106926) contributed to this loan, the following lenders also participated: CITIBANK, N.A., JPMorgan Chase Bank, N.A., BNP Paribas, Deutsche Bank AG New York Branch, Bank of America, N.A., Credit Suisse AG Cayman Islands Branch, Goldman Sachs Bank USA, HSBC Bank USA, Mizuho Bank, Ltd., Morgan Stanley Bank, N.A., The Bank of Tokyo-Mitsubishi UFJ, Ltd., Royal Bank of Canada, The Royal Bank of Scotland plc, Wells Fargo Bank, N.A., Lloyds Bank plc, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, SunTrust Bank, U.S. Bank National Association, DBS Bank Ltd., ING Capital LLC, Intesa Sanpaolo S.p.A., Sovereign Bank, N.A., State Street Bank and Trust Company, Svenska Handelsbanken AB, Toronto Dominion (Texas) LLC, The Bank of New York Mellon, The Northern Trust Company, China Construction Bank Corporation, and Santander Bank, N.A.. On March 11, 2016, financial close was reached on a deal in which a syndicate of 33 banks — including Agricultural Bank of China, New York Branch; Bank of China, Los Angeles Branch; China Construction Bank, New York Branch; and ICBC, New York Branch — entered into a $1.5 billion USD syndicated loan agreement with The Walt Disney Company, a multinational entertainment conglomerate headquartered in Burbank, California. The loan had a maturity of 364 days, with an option for the borrower to extend for an additional year. The interest rate was LIBOR plus an applicable margin. The proceeds of the loan were used to support commercial paper borrowings and for other general corporate purposes. While Bank of China (Record ID#106927), ICBC (Record ID#106928), Agricultural Bank of China (Record ID#106929), and China Construction Bank (Record ID#106930) contributed to this loan, the following lenders also participated: Citibank, N.A., JPMorgan Chase Bank, N.A., Banco Santander S.A., BNP Paribas, Deutsche Bank AG New York Branch, Bank of America, N.A., The Bank of Tokyo-Mitsubishi UFJ, Ltd., Bayerische Landesbank, New York Branch, Credit Suisse AG, Cayman Islands Branch, DBS Bank Ltd., Goldman Sachs Bank USA, HSBC Bank USA, National Association, ING Bank N.V., Dublin Branch, Intesa Sanpaolo S.p.A. - New York Branch, Mizuho Bank, Ltd., Morgan Stanley Bank, N.A., The Northern Trust Company, The Bank of New York Mellon, Royal Bank of Canada, Société Générale, Standard Chartered Bank, State Street Bank and Trust Company, Sumitomo Mitsui Banking Corporation, SunTrust Bank, Svenska Handelsbanken AB, Toronto Dominion (Texas) LLC, U.S. Bank National Association, Wells Fargo Bank, N.A., and Westpac Banking Corporation. On March 10, 2017, financial close was reached on a deal in which a syndicate of 31 banks — including Agricultural Bank of China, New York Branch; Bank of China, Los Angeles Branch; China Construction Bank, New York Branch; and ICBC, New York Branch — entered into a $2.5 billion USD syndicated loan agreement with The Walt Disney Company, a multinational entertainment conglomerate headquartered in Burbank, California. The loan had a maturity of 364 days, with an option for the borrower to extend for an additional year. The interest rate was LIBOR plus an applicable margin. The proceeds of the loan were used to support commercial paper borrowings and for other general corporate purposes. While Bank of China (Record ID#106931), ICBC (Record ID#106932), Agricultural Bank of China (Record ID#106933), and China Construction Bank (Record ID#106934) contributed to this loan, the following lenders also participated: JPMorgan Chase Bank, N.A., BNP Paribas, Deutsche Bank AG New York Branch, Banco Santander S.A., Bank of America, N.A., The Bank of New York Mellon, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Bayerische Landesbank, New York Branch, Credit Suisse AG, Cayman Islands Branch, DBS Bank Ltd., Goldman Sachs Bank USA, HSBC Bank USA, National Association, ING Bank N.V., Dublin Branch, Intesa Sanpaolo S.p.A., New York Branch, Mizuho Bank, Ltd., Morgan Stanley Bank, N.A., The Northern Trust Company, Royal Bank of Canada, Société Générale, Standard Chartered Bank, State Street Bank and Trust Company, Sumitomo Mitsui Banking Corporation, SunTrust Bank, Svenska Handelsbanken AB (publ), New York Branch, The Toronto-Dominion Bank, New York Branch, U.S. Bank National Association, Wells Fargo Bank, N.A., and Westpac Banking Corporation. On March 9, 2018, financial close was reached on a deal in which a syndicate of 31 banks — including Agricultural Bank of China, New York Branch; Bank of China, Los Angeles Branch; and ICBC, New York Branch — entered into a $2.5 billion USD syndicated loan agreement with The Walt Disney Company, a multinational entertainment conglomerate headquartered in Burbank, California. The loan had a maturity of 364 days, with an option for the borrower to extend for an additional year. The interest rate was LIBOR plus an applicable margin. The proceeds of the loan were used to support commercial paper borrowings and for other general corporate purposes. While Bank of China (Record ID#106935), ICBC (Record ID#106936), and Agricultural Bank of China (Record ID#106937) contributed to this loan, the following lenders also participated: JP Morgan Chase Bank, N.A.; BNP Paribas; Deutsche Bank AG, New York Branch; Bank of America, N.A.; Credit Suisse AG, Cayman Islands Branch; Goldman Sachs Bank USA; HSBC Bank USA, N.A.; Mizuho Bank, Ltd.; Morgan Stanley Bank, N.A.; The Bank of Tokyo-Mitsubishi UFJ, Ltd.; Royal Bank of Canada; Société Générale; Sumitomo Mitsui Banking Corporation; SunTrust Bank; The Toronto-Dominion Bank, New York Branch; U.S. Bank National Association; Wells Fargo Bank, N.A.; ING Bank N.V., Dublin Branch; Banco Santander, S.A., New York Branch; Standard Chartered Bank; Bayerische Landesbank, New York Branch; Commerzbank AG, New York Branch; Fifth Third Bank; Intesa Sanpaolo S.p.A., New York Branch; The Northern Trust Company; Svenska Handelsbanken AB (publ), New York Branch; UniCredit Bank AG, New York Branch; and Westpac Banking Corporation. On December 19, 2018, financial close was reached on a deal in which a syndicate of 30 banks — including Agricultural Bank of China, New York Branch; Bank of China, Los Angeles Branch; and ICBC, New York Branch— entered into a $6 billion USD syndicated loan agreement with The Walt Disney Company, a multinational entertainment conglomerate headquartered in Burbank, California. The loan had a maturity of until March 6, 2020, with an option for the borrower to extend for an additional year. The interest rate was LIBOR plus an applicable margin. The proceeds of the loan were used to support commercial paper borrowings and for other general corporate purposes. While Bank of China (Record ID#106938), ICBC (Record ID#106939), and Agricultural Bank of China (Record ID#106940) contributed to this loan, the following lenders also participated: JP Morgan Chase Bank, N.A.; BNP Paribas; Deutsche Bank AG New York Branch; Credit Suisse AG, Cayman Islands Branch; Goldman Sachs Bank USA; HSBC Bank USA, N.A.; Mizuho Bank, Ltd.; Morgan Stanley Bank, N.A.; MUFG Bank, Ltd.; Royal Bank of Canada; Société Générale; Sumitomo Mitsui Banking Corporation; SunTrust Bank; The Toronto-Dominion Bank, New York Branch; U.S. Bank National Association; Banco Santander, S.A., New York Branch; Standard Chartered Bank; Bank of America, N.A.; Bayerische Landesbank, New York Branch; Commerzbank AG, New York Branch; Fifth Third Bank; Svenska Handelsbanken AB (publ), New York Branch; The Northern Trust Company; UniCredit Bank AG, New York Branch; Wells Fargo Bank, N.A.; and ING Bank N.V., Dublin Branch. TWDC HOLDCO 613 CORP. served as the guarantor for the loan because the Walt Disney Company recently acquired 21st Century Fox. On March 6, 2020, financial close was reached on a deal in which a syndicate of 28 banks — including Agricultural Bank of China, New York Branch; Bank of China, Los Angeles Branch; and ICBC, New York Branch — entered into a $5.25 billion USD syndicated loan agreement with The Walt Disney Company, a multinational entertainment conglomerate headquartered in Burbank, California. The loan had a maturity of 364 days, with an option for the borrower to extend for an additional year. The interest rate was LIBOR plus an applicable margin. The proceeds of the loan were used to support commercial paper borrowings and for other general corporate purposes. While Bank of China (Record ID#106941), ICBC (Record ID#106942), and Agricultural Bank of China (Record ID#106943) contributed to this loan, the following lenders also participated: JPMorgan Chase Bank, N.A.; BNP Paribas; Deutsche Bank AG New York Branch; Bank of America, N.A.; Credit Suisse AG, Cayman Islands Branch; Goldman Sachs Bank USA; HSBC Bank USA, N.A.; Mizuho Bank, Ltd.; Morgan Stanley Bank, N.A.; MUFG Bank, Ltd.; Royal Bank of Canada; Société Générale; Sumitomo Mitsui Banking Corporation; The Toronto-Dominion Bank, New York Branch; Truist Bank; U.S. Bank National Association; Wells Fargo Bank, N.A.; Banco Santander, S.A., New York Branch; ING Bank N.V., Dublin Branch; Standard Chartered Bank; Bayerische Landesbank, New York Branch; Commerzbank AG, New York Branch; Intesa Sanpaolo S.p.A., New York Branch; Svenska Handelsbanken AB (publ), New York Branch; and Westpac Banking Corporation. On March 5, 2021, financial close was reached on a deal in which a syndicate of 27 banks — including Agricultural Bank of China, New York Branch; Bank of China, Los Angeles Branch; and ICBC, New York Branch — entered into a $5.25 billion USD syndicated loan agreement with The Walt Disney Company, a multinational entertainment conglomerate headquartered in Burbank, California. The loan had a maturity of 364 days, with an option for the borrower to extend for an additional year. The interest rate was LIBOR plus an applicable margin. The proceeds of the loan were used to support commercial paper borrowings and for other general corporate purposes. While Bank of China (Record ID#106944), ICBC (Record ID#106945), and Agricultural Bank of China (Record ID#106946) contributed to this loan, the following lenders also participated: JPMorgan Chase Bank, N.A.; BNP Paribas; Deutsche Bank AG New York Branch; Bank of America, N.A.; Credit Suisse AG, New York Branch; Goldman Sachs Bank USA; HSBC Bank USA, N.A.; Mizuho Bank, Ltd.; Morgan Stanley Bank, N.A.; MUFG Bank, Ltd.; Royal Bank of Canada; Société Générale; Sumitomo Mitsui Banking Corporation; The Toronto-Dominion Bank, New York Branch; Truist Bank; U.S. Bank National Association; Wells Fargo Bank, N.A.; Banco Santander, S.A., New York Branch; ING Bank N.V., Dublin Branch; Standard Chartered Bank; Commerzbank AG, New York Branch; Intesa Sanpaolo S.p.A., New York Branch; Svenska Handelsbanken AB (publ), New York Branch; and Westpac Banking Corporation. On March 4, 2022, financial close was reached on a deal in which a syndicate of 27 banks — including Agricultural Bank of China, New York Branch; Bank of China, Los Angeles Branch; and ICBC, New York Branch — entered into a $5.25 billion USD syndicated loan agreement with The Walt Disney Company, a multinational entertainment conglomerate headquartered in Burbank, California. The loan had a maturity of 364 days, with an option for the borrower to extend for an additional year. The interest rate was Adjusted Daily Simple SOFR plus an applicable margin. The proceeds of the loan were used to support commercial paper borrowings and for other general corporate purposes. While Bank of China (Record ID#106947), ICBC (Record ID#106948), and Agricultural Bank of China (Record ID#106949) contributed to this loan, the following lenders also participated: JPMorgan Chase Bank, N.A.; BNP Paribas; Deutsche Bank AG New York Branch; Bank of America, N.A.; Credit Suisse AG, New York Branch; Goldman Sachs Bank USA; HSBC Bank USA, N.A.; Mizuho Bank, Ltd.; Morgan Stanley Bank, N.A.; MUFG Bank, Ltd.; Royal Bank of Canada; Société Générale; Sumitomo Mitsui Banking Corporation; The Toronto-Dominion Bank, New York Branch; Truist Bank; U.S. Bank National Association; Wells Fargo Bank, N.A.; Banco Santander, S.A., New York Branch; ING Bank N.V., Dublin Branch; Standard Chartered Bank; Commerzbank AG, New York Branch; Intesa Sanpaolo S.p.A., New York Branch; Svenska Handelsbanken AB (publ), New York Branch; and Westpac Banking Corporation. On March 3, 2023, The Walt Disney Company reached financial close on a 364-day syndicated loan agreement with a group of 26 banks. The loan serves as a revolving credit facility, providing liquidity and working capital support for the company's operations. The facility is unsecured and replaces a previous $5.25 billion credit agreement dated March 4, 2022. The loan's interest rate consists of SOFR plus an applicable margin. The proceeds of the loan were used to support commercial paper borrowings and for other general corporate purposes. While Bank of China (Record ID#106950), ICBC (Record ID#106951) and Agricultural Bank of China (Record ID#106952) contributed to this loan, the following lenders also participated: JPMorgan Chase Bank, BNP Paribas, Deutsche Bank AG New York Branch, Bank of America, Credit Suisse AG New York Branch, Goldman Sachs Bank USA, HSBC Bank USA, Mizuho Bank, Morgan Stanley Bank, MUFG Bank, Royal Bank of Canada, Societe Generale, Sumitomo Mitsui Banking Corporation, The Toronto-Dominion Bank, Truist Bank, U.S. Bank National Association, Wells Fargo Bank, Banco Santander, ING Bank, Standard Chartered Bank, Commerzbank, Intesa Sanpaolo, Svenska Handelsbanken, and Westpac Banking Corporation.