Bank of China contributes $30 million USD to $1 billion USD syndicated term loan facility to Symantec Corporation for general corporate purposes (Linked to Record ID#108016)

Project narrative

On August 1, 2016, financial close was reached on a deal in which a syndicate of 22 banks — including Bank of China — entered into a $1 billion USD syndicated loan agreement with Symantec Corporation — a California-based global cybersecurity company known for its Norton antivirus products and enterprise security software. The loan was divided into three tranches: a revolving credit facility, Term A-1, and Term A-2. AidData is tracking the revolving credit facility, which matures on May 10, 2021, and Term A-1, which matures on May 10, 2019. The interest rate was LIBOR plus an applicable margin. The proceeds were used for general corporate purposes. The proceeds were used by the borrower to support general corporate purposes — including working capital, operational expenditures, and potential strategic initiatives such as acquisitions or business expansion. While Bank of China contributed $30,000,000 USD to the revolving credit loan (Record ID#108016) and $30 million USD to term a-1 loan (Record ID#108017), the following lenders also participated: Wells Fargo Bank, National Association ($96,250,000); Bank of America, N.A. ($96,250,000); Citibank, N.A. ($96,250,000); JPMorgan Chase Bank, N.A. ($96,250,000); Barclays Bank PLC ($60,000,000); HSBC Bank USA, National Association ($60,000,000); Mizuho Bank, Ltd. ($60,000,000); Morgan Stanley Bank, N.A. ($60,000,000); Sumitomo Mitsui Banking Corporation ($60,000,000); The Bank of Tokyo-Mitsubishi UFJ, Ltd. ($60,000,000); PNC Bank, National Association ($45,000,000); TD Bank, N.A. ($45,000,000); Toronto Dominion (Texas) LLC ($45,000,000); The Bank of Nova Scotia ($45,000,000); U.S. Bank, National Association ($25,000,000); Branch Banking and Trust Company ($17,500,000); Taiwan Cooperative Bank, Ltd., Los Angeles Branch ($12,500,000); The Bank of East Asia, Limited, Los Angeles Branch ($10,000,000); Hua Nan Commercial Bank, Los Angeles Branch ($10,000,000); Chang Hwa Commercial Bank, Ltd., Los Angeles Branch ($7,500,000); and Taiwan Business Bank, Los Angeles Branch ($7,500,000).