Agricultural Bank of China contribtues $60 million USD to $2.5 billion USD syndicated revolving credit facility to Illinois Tool Works for general corporate purposes in 2019 (Linked to Record ID#108080 and #108082)

Project narrative

On May 9, 2016, financial close was reached on a deal in which a syndicate of 17 banks — including Agricultural Bank of China — entered into a $2.5 billion USD syndicated loan agreement with Illinois Tool Works Inc., a U.S.-based diversified manufacturing company headquartered in Glenview, Illinois, which produces engineered fasteners, components, equipment, and specialty products for industrial customers. The maturity of the loan is 5 years, and the interest rate is LIBOR plus an applicable margin. The proceeds were used by the borrower for general corporate purposes. While Agricultural Bank of China contributed $60 million USD to this loan (Record ID#108180), the following lenders also participated: JPMorgan Chase Bank ($220 million USD), Citibank ($220 million USD), HSBC Bank USA ($167.5 million USD), Mizuho Bank ($167.5 million USD), Société Générale ($167.5 million USD), Commerzbank AG ($167.5 million USD), BMO Harris Bank ($150 million USD), Barclays Bank ($150 million USD), Wells Fargo Bank ($150 million USD), Goldman Sachs Bank USA ($150 million USD), Australia and New Zealand Banking Group ($150 million USD), The Northern Trust Company ($145 million USD), ING Bank ($120 million USD), Danske Bank ($120 million USD), Bank of America ($120 million USD), and U.S. Bank ($75 million USD). On September 27, 2019, financial close was reached on a deal in which a syndicate of 19 banks — including Bank of China and Agricultural Bank of China — entered into a $2.5 billion USD syndicated loan agreement with Illinois Tool Works Inc., a U.S.-based diversified manufacturing company headquartered in Glenview, Illinois, which produces engineered fasteners, components, equipment, and specialty products for industrial customers. The maturity of the loan is 5 years, and the interest rate is LIBOR plus an applicable margin. The proceeds were used by the borrower for general corporate purposes. While Bank of China contributed $100 million USD (Record ID#108182) and Agricultural Bank of China contributed $60 million USD to this loan (Record ID#108181), the following lenders also participated: JPMorgan Chase Bank ($205 million USD), Citibank ($205 million USD), Commerzbank AG ($152 million USD), HSBC Bank USA ($152 million USD), ING Bank ($152 million USD), Mizuho Bank ($152 million USD), Société Générale ($152 million USD), Australia and New Zealand Banking Group ($135 million USD), Barclays Bank ($135 million USD), BMO Harris Bank ($135 million USD), Goldman Sachs Bank USA ($135 million USD), The Northern Trust Company ($135 million USD), Wells Fargo Bank ($135 million USD), Danske Bank ($100 million USD), Intesa Sanpaolo ($100 million USD), U.S. Bank ($100 million USD), and Banco Bilbao Vizcaya Argentaria ($60 million USD).