ICBC contributes $42.5 million USD to $1 billion USD syndicated revolving credit facility to Tyco International Holding for general corporate purposes in 2016

Project narrative

On March 10, 2016, financial close was reached on a deal in which a syndicate of 26 banks — including Chinese banks such as ICBC — entered into a $1 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 maturity of the loan is 4.41 years (August 7, 2020), and the interest rate was LIBOR plus an applicable margin. The use of proceeds is for general corporate purposes. While ICBC contributed $42,500,000 USD to this loan, the following lenders also participated: Citibank, N.A.; Bank of America, N.A.; Barclays Bank PLC; 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 N.V., Dublin Branch; Intesa Sanpaolo Bank Luxembourg SA; The Bank of New York Mellon; The Bank of Tokyo-Mitsubishi UFJ, Ltd.; Toronto Dominion (Texas) LLC; U.S. Bank National Association; UniCredit Bank AG, New York Branch; BNP Paribas; Deutsche Bank AG New York Branch; Standard Chartered Bank; The Bank of Nova Scotia; The Northern Trust Company; and Westpac Banking Corporation.