Bank of China participates in rescheduling of $775 million USD syndicated loan — via 1.33 year maturity extension — to Hospitality Properties Trust for general corporate purposes in 2006 (Linked to Record ID#108891, #108893 and #108894)

Project narrative

On May 23, 2005, financial close was reached on a deal in which a syndicate of 34 banks — including Bank of China and Bank of Communications — entered into a $775,000,000 USD syndicated loan agreement with Hospitality Properties Trust — a Massachusetts-based real estate investment trust (REIT) that owns hotels and travel centers in the United States. The maturity of the loan was 14 years, and the interest rate was LIBOR plus an applicable margin. The proceeds were used by the borrower for the repayment of existing indebtedness, acquisition of properties, working capital, and other general business purposes. While Bank of China contributed $25,000,000 USD to this loan (Record ID#108891), Bank of Communications contributed $10 million USD to this loan (Record ID#108892), the following lenders also participated: Wachovia Bank, National Association ($40,000,000); The Royal Bank of Scotland plc ($40,000,000); Royal Bank of Canada ($33,000,000); Calyon New York Branch ($33,000,000); Sumitomo Mitsui Banking Corporation ($33,000,000); Allied Irish Banks, p.l.c. ($33,000,000); Societe Generale ($30,000,000); Emigrant Savings Bank ($30,000,000); PNC Bank, N.A. ($30,000,000); Bank of Montreal ($27,500,000); Mizuho Corporate Bank, Ltd. ($27,500,000); United Overseas Bank Limited ($27,500,000); U.S. Bank National Association ($27,500,000); Wells Fargo Bank, National Association ($25,000,000); AmSouth Bank ($25,000,000); The Bank of New York ($20,000,000); Land Bank of Taiwan ($20,000,000); SunTrust Bank ($20,000,000); Bank of Taiwan ($15,000,000); Chang Hwa Commercial Bank, Ltd. ($15,000,000); E. Sun Commercial Bank, Ltd. ($15,000,000); The International Commercial Bank of China ($13,000,000); Chiao Tung Bank Co., Ltd. ($12,500,000); Chinatrust Commercial Bank ($12,500,000); Bank of America, N.A. ($10,000,000); Merrill Lynch Bank USA ($10,000,000); Morgan Stanley Bank ($10,000,000); Bank Hapoalim B.M. ($10,000,000); Citizens Bank of Massachusetts ($10,000,000); Comerica Bank ($10,000,000); The Farmers Bank of China ($10,000,000); First Hawaiian Bank ($10,000,000); Taipei Fubon Commercial Bank Co. Ltd. ($10,000,000); First Commercial Bank ($10,000,000); Hua Nan Commercial Bank, Ltd. ($10,000,000 combined across two branches). On August 22, 2006, the parties extended the maturity to October 22, 2010. Bank of China's contribution is recorded in Record ID#108893, and Bank of Communications's contribution is recorded in Record ID#108894.