ICBC contributes $89.5 billion USD to $2.5 billion USD to Johnson Controls for general corporate purposes in 2013

Project narrative

On August 6, 2013, financial close was reached on a deal in which a syndicate of 17 banks — including ICBC — entered into a $2.5 billion USD syndicated loan agreement with Johnson Controls, Inc. — a U.S.-based multinational company specializing in automotive parts, batteries, and HVAC equipment. The maturity of the loan is 5 years and the interest rate was LIBOR plus an applicable margin. The proceeds of the Loans made under this Agreement will be used by the Borrowers for general business purposes. While ICBC contributed $89,500,000 USD to this loan, the following lenders also participated: JPMorgan Chase Bank, N.A. ($220,000,000 USD), Bank of America, N.A. ($220,000,000 USD), Barclays Bank PLC ($194,000,000 USD), Citibank, N.A. ($194,000,000 USD), ING Bank N.V. Dublin Branch ($194,000,000 USD), Commerzbank AG, New York and Grand Cayman Branches ($70,000,000 USD), Commerzbank Aktiengessellschaft, Filiale Luxemburg ($70,000,000 USD), Crédit Agricole Corporate and Investment Bank ($140,000,000 USD), Danske Bank A/S ($140,000,000 USD), Intesa Sanpaolo S.p.A. ($140,000,000 USD), Standard Chartered Bank ($140,000,000 USD), The Bank of Tokyo-Mitsubishi UFJ, Ltd. ($140,000,000 USD), U.S. Bank, N.A. ($140,000,000 USD), Wells Fargo Bank, N.A. ($140,000,000 USD), Toronto Dominion (Texas) LLC ($89,500,000 USD), The Royal Bank of Scotland plc ($89,500,000 USD), and UniCredit Bank AG, New York Branch ($89,500,000 USD).