Bank of China contributes to $1 billion USD syndicated revolving credit facility to CVS Health Corporation for general corporate purposes in 2020 (Linked to Record ID#108090)

Project narrative

On May 13, 2020, 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 $1,000,000,000 USD syndicated revolving credit facility (RCF) agreement with CVS Health Corporation — a U.S.-based retail pharmacy and healthcare company — for general corporate purposes. The maturity of the loan was 364 days and the interest rate was LIBOR plus an applicable margin. The proceeds were used by the borrower for general corporate purposes, enhancing CVS Health Corporation’s liquidity position, providing flexibility during market disruptions, and supporting its operational and financial resilience during a period of uncertainty. In addition to BOC (Record ID#108089) and ICBC (Record ID#108090), the following lenders also contributed to the loan syndicate: 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., Mizuho Bank, Ltd., MUFG Bank, Ltd., Royal Bank of Canada, Truist Bank, U.S. Bank National Association, Credit Suisse AG, Cayman Islands Branch, Fifth Third Bank, National Association, PNC Bank, National Association, Banco Santander, S.A., New York Branch, Sumitomo Mitsui Banking Corporation, KeyBank National Association, TD Bank, N.A., and The Bank of New York Mellon.