Bank of China contributes to $2 billion USD to Fortive Corporation for working capital, capital expenditures, acquisitions, refinancing and general corporate purposes in 2022 (Linked to Record ID#107485)

Project narrative

On November 30, 2018, financial close was reached on a deal in which a syndicate of 20 banks — including Bank of China — entered into a $2 billion USD syndicated loan agreement with Fortive Corporation, a Delaware-based diversified industrial technology company. The loan's maturity is five years, and the interest rate was LIBOR plus an applicable margin. The use of proceeds is for working capital, capital expenditures, acquisitions and refinancing indebtedness and for other general corporate purposes. While Bank of China contributed $40 million USD to this loan (Record ID#107485), the following lenders also participated: Bank of America, N.A. ($150 million USD), BNP Paribas ($150 million USD), Citibank, N.A. ($150 million USD), HSBC Bank USA, National Association ($150 million USD), Sumitomo Mitsui Banking Corporation ($150 million USD), U.S. Bank National Association ($150 million USD), Barclays Bank PLC ($110 million USD), Goldman Sachs Bank USA ($110 million USD), Morgan Stanley Bank, N.A. ($110 million USD), MUFG Bank, Ltd. ($110 million USD), The Bank of Nova Scotia ($110 million USD), UBS AG, Stamford Branch ($110 million USD), Credit Suisse AG, Cayman Islands Branch ($70 million USD), JPMorgan Chase Bank, N.A. ($70 million USD), PNC Bank, National Association ($70 million USD), Wells Fargo Bank, National Association ($70 million USD), Branch Banking and Trust Company ($40 million USD), Deutsche Bank AG, New York Branch ($40 million USD), and Westpac Banking Corporation ($40 million USD). On October 18, 2022, financial close was reached on a deal in which a syndicate of 19 banks — including Bank of China — entered into a $2 billion USD syndicated loan agreement with Fortive Corporation, a Delaware-based diversified industrial technology company. The loan's maturity is 5 years, and the interest rate was SOFR plus an applicable margin. The use of proceeds is unknown. While Bank of China contributed to this loan (Record ID#107486), the following lenders also participated: Bank of America, N.A., BNP Paribas, Citibank, N.A., HSBC Bank USA, National Association, Sumitomo Mitsui Banking Corporation, U.S. Bank National Association, Barclays Bank PLC, Goldman Sachs Bank USA, Morgan Stanley Bank, N.A., UBS AG, Stamford Branch, The Bank of Nova Scotia, Credit Suisse AG, New York Branch, JPMorgan Chase Bank, N.A., PNC Bank, National Association, Wells Fargo Bank, National Association, Truist Bank, The Toronto-Dominion Bank, New York Branch, and Westpac Banking Corporation. There are a series of amendments that occurred which changed the definitions of certain loan terms.