Bank of China participates in debt rescheduling — via three year maturity extension — to $2.27 billion USD syndicated RCF loan to Uber Technologies for general corporate purposes in 2018 (Linked to Record ID#107460)

Project narrative

On June 26, 2015, financial close was reached on a deal in which a syndicate of multiple banks, including Morgan Stanley Senior Funding, Inc., Barclays Bank PLC, Citigroup Global Markets Inc., Goldman Sachs Lending Partners LLC, and J.P. Morgan Securities LLC, entered into a $1.9 billion USD revolving credit facility with Uber Technologies, Inc., a Delaware-based ride-hailing and technology company. The maturity of the loan was June 26, 2020, and the interest rate was based on LIBOR plus 1%. The proceeds of the loan were used by Uber Technologies, Inc. for general corporate purposes, including potential acquisitions, working capital, and operational expansion. Additionally, the facility provided the borrower with access to liquidity to support its business model and global growth strategy. While there was no Chinese banks in the initial syndicate, Bank of China signed onto the Joinder Agreement on March 21, 2016 along with Royal Bank of Canada and Barclays Bank. BOC contributed $250 million USD (Record ID#107460). The maturity and other terms remain unchanged. Other banks are Morgan Stanley Senior Funding, Inc.; Barclays Bank PLC; Citigroup Global Markets Inc.; Goldman Sachs Lending Partners LLC; J.P. Morgan Securities LLC; Merrill Lynch, Pierce, Fenner & Smith Incorporated; SunTrust Bank; Deutsche Bank Securities, Inc.; and HSBC Bank USA, N.A. On June 13, 2018, the parties amended the loan agreement and extended the maturity to June 13, 2023. BOC’s contribution to the debt rescheduling is recorded in Record ID#107461.