Bank of China contributes $20 million USD to $500 million USD syndicated revolving credit facility to Textron for general corporate purposes in 2014

Project narrative

On January 24, 2014, financial close was reached on a deal in which a syndicate of 15 banks — including Bank of China — entered into a $500,000,000 USD syndicated loan agreement with Textron Inc., a Rhode Island-based American industrial conglomerate known for its aircraft, defense, and industrial product lines. The maturity of the loan is 5 years and the interest rate was LIBOR plus an applicable margin. The use of proceeds is for general corporate purposes. While Bank of China contributed an estimated $20,000,000 USD to this loan, the following lenders also participated: JPMorgan Chase Bank, N.A. ($40,000,000), Bank of America, N.A. ($40,000,000), Citibank, N.A. ($40,000,000), The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Sumitomo Mitsui Banking Corporation (jointly $75,000,000), Fifth Third Bank ($50,000,000), PNC Bank, National Association ($25,000,000), The Bank of New York Mellon and U.S. Bank, National Association (jointly $25,000,000), DBS Bank Ltd., Los Angeles Agency and SunTrust Bank (jointly $20,000,000), Synovus Bank ($20,000,000), The Bank of East Asia, Limited and The Northern Trust Company (jointly $20,000,000), and Wells Fargo Bank, N.A. ($20,000,000).