ICBC contributes to $446.4 million syndicated revolving credit facility to American Airlines for general corporate purpose in 2019 (Linked to Record ID#108632 and #108633)

Project narrative

On April 29, 2016, financial close was reached on a deal in which a syndicate of banks — including ICBC — entered into a $1 billion USD term loan agreement with American Airlines, a U.S.-based major commercial airline headquartered in Fort Worth, Texas. The loan’s maturity is seven years and the interest rate was LIBOR plus an applicable margin. The proceeds were used by the borrower for general corporate purposes. While ICBC contributed to this loan (Record ID#108632), the following lenders also participated: Barclays Bank PLC, Citigroup Global Markets, Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs Bank USA, J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley Senior Funding, Inc., BNP Paribas Securities Corp, Credit Agricole Corporate and Investment Bank, and U.S. Bank National Association. The parties also agreed to establish a revolving credit facility in the future if needed. On August 17, 2017, financial close was reached on a deal in which a syndicate of 16 banks — including ICBC — agreed to establish a $300 million USD revolving credit facility with American Airlines, a U.S.-based major commercial airline headquartered in Fort Worth, Texas. The loan’s maturity is five years, with a final maturity date of October 13, 2022. The interest rate was LIBOR plus an applicable margin. While ICBC contributed to this facility (Record ID#108633), the following lenders also participated: Bank of America, N.A., Barclays Bank PLC, Citibank, N.A., Credit Suisse AG, Cayman Islands Branch, Deutsche Bank AG New York Branch, Goldman Sachs Bank USA, JPMorgan Chase Bank, N.A., 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 remain confidential. On November 8, 2019, financial close was reached on a deal in which a syndicate of 19 banks — including ICBC — entered into a $446.4 million 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, with a final maturity date of October 11, 2024. The interest rate was LIBOR plus an applicable margin. The proceeds were used by the borrower for general corporate purposes. While ICBC contributed to this loan (Record ID#108634), the following lenders also participated: Barclays Bank PLC, Bank of America, N.A., Citibank N.A., Credit Suisse AG, Cayman Islands Branch, Deutsche Bank AG New York Branch, Goldman Sachs Bank USA, JPMorgan Chase Bank, N.A., Morgan Stanley Bank, N.A., Morgan Stanley Senior Funding, Inc., Sumitomo Mitsui Banking Corporation, BNP Paribas, Credit Agricole Corporate and Investment Bank, HSBC Bank USA, N.A., MUFG Union Bank, N.A., Standard Chartered Bank, U.S. Bank National Association, BOKF, NA dba Bank of Texas, and Texas Capital Bank, N.A. All individual contribution amounts remain confidential.