ICBC (New York Branch) contributes $12.97 million USD to $1.042 billion USD syndicated term loan to Global Payments Inc. and subsidiaries for debt refinancing and acquisition purposes in 2016

Project narrative

On July 31, 2015, Global Payments Inc., a Georgia-based financial technology and payment processing company, entered into a loan agreement with several banks. There was no Chinese bank involvement. On October 31, 2016, financial close was reached on a deal in which a syndicate of many banks — including ICBC (New York Branch) — entered into a $1,042,387,500 USD syndicated loan agreement with Global Payments Inc., a U.S.-based financial technology and payment processing company and its subsidiaries. The maturity of the loan is 5 years and the interest rate was LIBOR plus an applicable margin. The use of proceeds was for debt refinancing and acquisitions. This loan refinanced the July 2015 loan by converting the amount outstanding principal owed to the banks into a new loan and introduced new banks to the lending instrument. While ICBC contributed $12,967,500 USD to this loan (Record ID#108492), the following lenders also participated: Blackrock Financial Management, State Bank of India, Highbridge Capital Management LLC, Invesco Senior Secured Management Inc., State Street Bank & Trust Company (Hartford), GSO Capital / Blackstone Group, CS Alternative Capital (CSAM), Fidelity Investments, Wellington, Eaton Vance Management, Neuberger Berman, Apollo Capital Management LP, AIB Debt Management, Aozora Bank, PIMCO, Octagon Credit Investors, Barings LLC (f/k/a Babson Capital), Goldentree Asset Management, Metropolitan Life Insurance Company, Citizens Bank N.A., Erste Bank, Crédit Industriel et Commercial, T. Rowe Price Associates, Inc., Symphony Asset Management LLC, Och-Ziff Capital, Oak Hill Advisors Inc., Mackay Shields – Pareto, Byline Bank, Highland Capital Management LP, Guggenheim Investment Partners, Voya Investment Management Company, Goldman Sachs Asset Management (GSAM), CVC Credit Partners Limited (f/k/a Apidos), Ares Management LLC (as Fund Manager), Bain Capital LLC, Commercial Industrial Finance Corp (CIFC), Sound Point Capital Management, JP Morgan Investment Management, Muzinich & Co, East West Bank, Teachers Insurance And Annuity Association (TIAA-CREF), PGIM, Inc. (f/k/a Prudential Investment Management), Doubleline Capital LP, KKR Financial LLC, Deutsche Asset Management (a/k/a DB Advisors), Napier Park (f/k/a Citi Alternative), TPG Credit Management LP, ONEX Credit Partners, Golub Capital, MJX Asset Management, Fraser Sullivan Investment Management LLC, Oppenheimer Fund Distributor Inc., PPM America Inc., Great West Life & Annuity Ins., American Money Management Corporation, Raymond James Bank FSB, Kramer Van Kirk Credit Strategies LP, Bank of America, N.A. (Charlotte), York Capital Management LP, American Capital Strategies, ABRY Partners LLC, Sumitomo Mitsui Banking Corporation, Marathon Asset Management, Apex Credit Partners, TCW Asset Management Company, BAWAG P.S.K., Tall Tree Investment Management LLC, Littlejohn & Company LLC (WallFleet), Sound Harbor Partners LLC (Aladdin), Pioneer Investments, Fort Washington Investment Advisors Inc., NewMark Capital LLC, Mariner Capital, Cathay Bank (Los Angeles), Macquarie Bank, Goldman Sachs Bank USA, Loomis Sayles, Shenkman Capital Management Inc., Oaktree Capital, New York Life Insurance, Canyon Capital Advisors LLC, MidOcean Partners, Guardian Life Insurance Co. LLP, and BNP Paribas Paris. In addition, the loan's guaranteed by the company's subsidiaries. On March 20, 2018, the parties entered into an agreement in which they reduced the interest rate from LIBOR +2.0% to LIBOR +1.75% (Record ID#108493). Other loan terms appeared to remain the same.