Bank of China participates in debt rescheduling — via one year maturity extension — to $750 million USD syndicated revolving credit facility to Magellan Health for general corporate, working capital and debt refinancing purposes in 2018 (Record ID#110265)

Project narrative

On September 22, 2017, financial close was reached on a deal in which a syndicate of 21 banks — including Bank of China — entered into a $750,000,000 USD syndicated loan agreement with Magellan Health, Inc., a U.S.-based healthcare management company specializing in behavioral healthcare, specialty healthcare, and pharmacy management services — for working capital, general corporate purposes, and debt refinancing. 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 for working capital, general corporate purposes, and refinancing existing debt obligations. While Bank of China contributed to this loan (Record ID#110265), the following lenders also participated: The Bank of Tokyo-Mitsubishi UFJ, Ltd.; Compass Bank (d/b/a BBVA Compass); JPMorgan Chase Bank, N.A.; U.S. Bank National Association; Wells Fargo Bank, National Association; Citibank, N.A.; Fifth Third Bank; KeyBank National Association; City National Bank; Bank of Taiwan, New York Branch; Chang Hwa Commercial Bank, Ltd.; First Commercial Bank, Ltd.; Hua Nan Commercial Bank Ltd., New York Agency; Land Bank of Taiwan, New York Branch; Mega International Commercial Bank, Ltd.; Taiwan Business Bank, Ltd.; Taiwan Cooperative Bank; CTBC Bank Co., Ltd.; E.Sun Commercial Bank, Ltd.; and The Gunma Bank, Ltd. On August 13, 2018, the company and the banks entered into an amendment in which they extended the maturity for a year. Bank of China's contribution is recorded in Record ID#110266.