ICBC contributes to $1.2 billion USD syndicated revolving credit facility to American Airlines for general corporate purpose in 2017 (Linked to Record ID#108617 and #108619)

Project narrative

On May 21, 2015, American Airlines signed a loan with banks. There's no Chinese bank involvement. But on October 26, 2015, financial close was reached on a deal in which a syndicate of 14 banks — including ICBC — entered into a $1.4 billion USD syndicated loan agreement with American Airlines, a U.S.-based major commercial airline headquartered in Fort Worth, Texas. The loan’s maturity is five years and the interest rate was LIBOR plus an applicable margin. The proceeds were used by the borrower for general corporate purposes and to support the company’s liquidity, although the exact use of proceeds is unknown. While ICBC contributed $72,165,000 USD to this loan (Record ID#108617), the following lenders also participated: Deutsche Bank AG New York Branch ($144,330,000 USD), Citibank, N.A. ($144,330,000 USD), Bank of America, N.A. ($144,330,000 USD), Barclays Bank PLC ($144,330,000 USD), BNP Paribas ($72,165,000 USD), Credit Agricole Corporate and Investment Bank ($72,165,000 USD), Credit Suisse AG, Cayman Islands Branch ($144,330,000 USD), Goldman Sachs Bank USA ($72,698,600 USD), Goldman Sachs Lending Partners LLC ($71,631,400 USD), JPMorgan Chase Bank, N.A. ($144,330,000 USD), Morgan Stanley Bank, N.A. ($37,698,600 USD), Morgan Stanley Senior Funding, Inc. ($106,631,400 USD), and US Bank, National Association ($28,865,000 USD). In March 2017, the parties entered into a second amendment in which they changed a few definitions. On August 21, 2017, financial close was reached on a deal in which a syndicate of 17 banks — including ICBC — entered into a $1.35 billion USD syndicated loan agreement with American Airlines, a U.S.-based major commercial airline headquartered in Fort Worth, Texas. The loan’s maturity is five years and the interest rate was LIBOR plus an applicable margin. While ICBC contributed to this loan (Record ID#108618), the following lenders also participated: Deutsche Bank AG New York Branch ($150,000,000 USD), Bank of America, N.A., Barclays Bank PLC, Citibank, N.A., Credit Suisse AG, Cayman Islands Branch, JPMorgan Chase Bank, N.A., Goldman Sachs Bank USA, Goldman Sachs Lending Partners LLC, Morgan Stanley Bank, N.A., Morgan Stanley Senior Funding Inc., BNP Paribas, Credit Agricole Corporate and Investment Bank, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, U.S. Bank National Association, and Texas Capital Bank, N.A. Contribution amounts for all banks except Deutsche Bank remain confidential. On November 8, 2019, financial close was reached on a deal in which a syndicate of 17 banks — including ICBC — entered into a $1.35 billion USD syndicated loan agreement with American Airlines, a U.S.-based major commercial airline headquartered in Fort Worth, Texas. The loan’s maturity is five years and the interest rate was LIBOR plus an applicable margin. While ICBC contributed to this loan (Record ID#108619), the following lenders also participated: Deutsche Bank AG New York Branch ($150,000,000 USD), Bank of America, N.A., Barclays Bank PLC, Citibank, N.A., Credit Suisse AG, Cayman Islands Branch, JPMorgan Chase Bank, N.A., Goldman Sachs Bank USA, Goldman Sachs Lending Partners LLC, Morgan Stanley Bank, N.A., Morgan Stanley Senior Funding Inc., BNP Paribas, Credit Agricole Corporate and Investment Bank, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, U.S. Bank National Association, and Texas Capital Bank, N.A. Contribution amounts for all banks except Deutsche Bank remain confidential.