Bank of China contributes $180 million USD to $4 billion USD syndicated term loan to Tyco International Holding for the merger of Jagara Merger Sub with Johnson Controls in 2016 (Linked to Record ID#107707 and #107708)

Project narrative

On March 10, 2016, financial close was reached on a deal in which a syndicate of 27 banks—including Chinese banks such as Bank of China, ICBC, and Agricultural Bank of China—entered into a $4 billion USD syndicated loan with Tyco International Holding S.a.r.l., a Luxembourg-based subsidiary of Tyco International, which operated in fire protection and security. The loan’s maturity is 5 years, and the interest rate was LIBOR plus an applicable margin. The use of proceeds is to finance the separation of Jagara Merger Sub LLC and the merger of Tyco with Johnson Controls. While Bank of China contributed $180 million (Record ID#), ICBC contributed $180 million (Record ID#), and Agricultural Bank of China contributed $40 million to this loan (Record ID#), the following lenders also participated: Citibank, N.A.; Bank of America, N.A.; JPMorgan Chase Bank, N.A.; Wells Fargo Bank, National Association; Banco Bilbao Vizcaya Argentaria, S.A. New York Branch; Commerzbank AG New York Branch; Credit Agricole Corporate and Investment Bank; Danske Bank A/S; Goldman Sachs Bank USA; ING Bank, a Branch of ING-DiBa AG; Intesa Sanpaolo Bank Luxembourg SA; TD Bank, N.A.; The Bank of New York Mellon; The Bank of Tokyo-Mitsubishi UFJ, Ltd.; U.S. Bank National Association; UniCredit Bank AG, New York Branch; Standard Chartered Bank; The Bank of Nova Scotia; BNP Paribas; State Bank of India, New York Branch; The Bank of East Asia, Limited, New York Branch; The Northern Trust Company; City National Bank; First Hawaiian Bank; and Taiwan Business Bank, Los Angeles Branch.