Bank of China participates in debt rescheduling — via 1.74 year maturity extension — for $2 billion USD syndicated revolving credit facility to Lowe's Companies Inc. for working capital purposes in 2021 (Linked to Record ID#107646)

Project narrative

On March 20, 2020, financial close was reached on a deal in which a syndicate of 13 banks — including Bank of China — entered into a $2,000,000,000 USD syndicated loan agreement with Lowe’s Companies, Inc. — a North Carolina-based retail company that operates a chain of home improvement and hardware stores across the United States and Canada. The maturity of the loan is 5 years and the interest rate is LIBOR plus an applicable margin. The use of proceeds is for working capital and general corporate purposes. While Bank of China contributed $58,750,000 USD to this loan (Record ID#107646), the following lenders also participated: Bank of America, N.A. ($207,500,000 USD); Barclays Bank PLC ($207,500,000 USD); Citibank, N.A. ($207,500,000 USD); Goldman Sachs Bank USA ($207,500,000 USD); JPMorgan Chase Bank, N.A. ($207,500,000 USD); U.S. Bank National Association ($207,500,000 USD); Wells Fargo Bank, National Association ($207,500,000 USD); Mizuho Bank, Ltd. ($125,000,000 USD); Royal Bank of Canada ($125,000,000 USD); MUFG Bank, Ltd. ($90,000,000 USD); Truist Bank ($90,000,000 USD); and Bank of Montreal ($58,750,000 USD). On December 14, 2021, the parties entered into an amendment in which they extended the maturity to December 14, 2026. BOC’s contribution is recorded in Record ID#107647.