Bank of China contributes $95 million USD to $1 billion USD syndicated term loan facility to Sketchers Inc. in the United States for general corporate and debt refinancing purposes in 2021 (Linked to Record ID#108788)

Project narrative

On November 21, 2019, financial close was reached on a deal in which a syndicate of 6 banks — including Bank of China — entered into a $500 million USD syndicated loan agreement with Skechers U.S.A., Inc., a California-based footwear company known for its athletic and lifestyle shoe brands — for general corporate purposes and refinancing of existing debt. 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 to support general corporate activities — such as operational expenses, investments, and working capital — as well as to refinance outstanding debt obligations. While Bank of China contributed $70,000,000 USD to this loan (Record ID#108788), the following lenders also participated: Bank of America, N.A. ($110,000,000 USD), HSBC Bank USA, N.A. ($90,000,000 USD), JPMorgan Chase Bank, N.A. ($90,000,000 USD), MUFG ($70,000,000 USD), and City National Bank ($70,000,000 USD). On December 15, 2021, financial close was reached on a deal in which a syndicate of 7 banks — including Bank of China — entered into a $750 million USD syndicated loan agreement with Skechers U.S.A., Inc., a California-based footwear company known for its athletic and lifestyle shoe brands — for general corporate purposes and refinancing of existing debt. 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 to fund general corporate purposes — such as working capital, operations, and growth strategies — and to refinance existing debt from prior credit facilities. While Bank of China contributed $95,000,000 USD to this loan (Record ID#108789), the following lenders also participated: Bank of America, N.A. ($150,000,000 USD), HSBC Bank USA, N.A. ($130,000,000 USD), JPMorgan Chase Bank, N.A. ($130,000,000 USD), City National Bank ($95,000,000 USD), The Bank of Nova Scotia ($75,000,000 USD), and Mizuho Bank, Ltd. ($75,000,000 USD).