Bank of China contributes to $2 billion USD syndicated revolving credit facility to CVS Health Corporation for general corporate purposes in 2022 (Linked to Record ID#108079)

Project narrative

On May 16, 2022, financial close was reached on a deal in which a syndicate of 21 banks — including the New York Branch of the Bank of China (BOC) and the New York Branch of the Industrial and Commercial Bank of China (ICBC) — entered into a $2,000,000,000 USD syndicated loan agreement with CVS Health Corporation — a U.S.-based retail pharmacy and healthcare company — for general corporate purposes. The maturity of the loan was five years and the interest rate was SOFR plus an applicable margin. The proceeds were used by the borrower for general corporate purposes, providing CVS Health Corporation with liquidity for refinancing existing obligations, funding working capital requirements, and supporting overall corporate activities. In addition to BOC (Record ID#108078) and ICBC (Record ID#108079), the following lenders also contributed to the RCF: Bank of America, N.A., Barclays Bank PLC, Goldman Sachs Bank USA, JPMorgan Chase Bank, N.A., Wells Fargo Bank, National Association, Citibank, N.A., Credit Suisse AG, New York Branch, Mizuho Bank, Ltd., Royal Bank of Canada, Truist Bank, U.S. Bank National Association, Fifth Third Bank, National Association, Morgan Stanley Bank, N.A., PNC Bank, National Association, Sumitomo Mitsui Banking Corporation, The Bank of New York Mellon, KeyBank National Association, and TD Bank, N.A.