ICBC participates in debt rescheduling —via one year maturity extension — to $2.3 billion USD five year syndicated revolving credit facility to the Boeing Company for general corporate and debt financing purposes in 2016 (linked to Record ID##110318)

Project narrative

On November 10, 2011, financial close was reached on a deal in which a syndicate of 35 banks — including ICBC and Bank of China — entered into a $4,600,000,000 USD syndicated loan agreement with The Boeing Company for refinancing and general corporate purposes. The facility was split into two tranches: a one-year $2,300,000,000 USD tranche at a base rate of LIBOR + 82.500 bps, which replaced the loan secured in November 2010, and a five-year $2,300,000,000 USD tranche at a base rate of LIBOR + 79.500 bps. The proceeds were used by the borrower for refinancing bank debt and general corporate purposes. While ICBC contributed an estimated $41.8 million USD to the one year loan (Record ID#110281) and $41.8 million USD for the five year loan (Record ID#110282), Bank of China also contributed an estimated $41.8 million USD to the one year loan (Record ID#110283) and $41.8 million USD for the five year loan (Record ID#110284). The following lenders also participated: Barclays Bank PLC; BNP Paribas; Credit Suisse AG, Cayman Islands Branch; Deutsche Bank AG, New York Branch; Mizuho Corporate Bank, Ltd.; Sumitomo Mitsui Banking Corporation; The Bank of Tokyo-Mitsubishi UFJ, Ltd.; Goldman Sachs Bank USA; Morgan Stanley Bank, N.A.; Credit Agricole Corporate and Investment Bank; Royal Bank of Canada; UBS Loan Finance LLC; U.S. Bank National Association; Bayerische Landesbank, New York Branch; Lloyds TSB Bank PLC; Sovereign Bank; Banco Bilbao Vizcaya Argentaria S.A., New York Branch; State Street Bank and Trust Company; The Northern Trust Company; Abu Dhabi International Bank; Australia and New Zealand Banking Group Limited; Commerzbank AG, New York and Grand Cayman Branches; DBS Bank Ltd., Los Angeles Agency; Standard Chartered Bank; The Bank of New York Mellon; Westpac Banking Corporation; Intesa Sanpaolo S.p.A.; and Riyad Bank, Houston Agency. On October 9, 2014, the company and the banks signed amendment 1 on the 5 year loan agreement where they extended the maturity of the loan by one year. Now the five-year maturity is due on November 10, 2019, implying that the parties had exercised the option to automatically extend the maturity already. ICBC's contribution to the five-year maturity extension is recorded in Project#110313. BOC's contribution to the five-year maturity extension is recorded in Record ID#110314. On November 4, 2015, the company and banks signed amendment 2 on the 5 year maturity loan, extending it to November 3, 2020. ICBC's contribution to the five-year maturity extension is recorded in Record ID#110315 and BOC's contribution to the five-year maturity extension is recorded in Record ID#110316. On November 2, 2016, the company and banks signed amendment 3 on the 5 year maturity loan, extending it to November 2, 2021. ICBC's contribution to the five-year maturity extension is recorded in Record ID#110317 and BOC's contribution to the five-year maturity extension is recorded in Record ID#110318 On November 1, 2017, the company and banks signed amendment 4 on the 5 year maturity loan, extending it to November 1, 2022. ICBC's contribution to the five-year maturity extension is recorded in Record ID#110319 and BOC's contribution to the five-year maturity extension is recorded in Record ID#110320. On October 30, 2019, financial close was reached on a deal in which a syndicate of 36 banks — including ICBC and Bank of China — entered into a $3,200,000,000 USD syndicated loan agreement with The Boeing Company, a U.S.-based multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, and telecommunications equipment — for 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 general corporate purposes and debt refinancing. While ICBC contributed $50,000,000 USD to this loan (Record ID#110321), Bank of China also contributed $50,000,000 USD (Record ID#110322). The following lenders also participated: Citibank, N.A. ($218,333,333.32); JPMorgan Chase Bank, N.A. ($218,333,333.33); Bank of America, N.A. ($166,666,666.67); Deutsche Bank AG, New York Branch ($166,666,666.67); Mizuho Bank, Ltd. ($166,666,666.67); Sumitomo Mitsui Banking Corporation ($166,666,666.67); Wells Fargo Bank, National Association ($166,666,666.67); Banco Bilbao Vizcaya Argentaria, S.A., New York Branch ($116,666,666.67); BNP Paribas ($116,666,666.67); Commerzbank AG, New York Branch ($116,666,666.67); MUFG Bank, Ltd. ($116,666,666.67); Royal Bank of Canada ($116,666,666.67); Societe Generale ($116,666,666.67); Banco Santander, S.A., New York Branch ($100,000,000.00); Barclays Bank PLC ($83,333,333.33); Credit Agricole Corporate and Investment Bank ($83,333,333.33); Credit Suisse AG, Cayman Islands Branch ($83,333,333.33); Goldman Sachs Bank USA ($83,333,333.33); Morgan Stanley Bank, N.A. ($83,333,333.33); DBS Bank Ltd. ($66,666,666.67); U.S. Bank National Association ($66,666,666.67); Australia and New Zealand Banking Group Limited ($50,000,000.00); Lloyds Bank Corporate Markets, plc ($50,000,000.00); Standard Chartered Bank ($50,000,000.00); State Bank of India, New York Branch ($50,000,000.00); SunTrust Bank ($50,000,000.00); Westpac Banking Corporation ($50,000,000.00); The Northern Trust Company ($40,000,000.00); First Abu Dhabi Bank USA N.V. ($33,333,333.33); Riyad Bank, Houston Agency ($33,333,333.33); State Street Bank and Trust Company ($33,333,333.33); ICICI Bank Limited, New York Branch ($20,000,000.00); and Intesa Sanpaolo S.p.A., New York Branch ($20,000,000.00). On August 24, 2023, financial close was reached on two separate syndicated revolving credit facility agreements between Boeing Company — a United States–based aerospace manufacturer and defense contractor — and syndicates of 29 banks, both including Bank of China, for general corporate purposes and debt refinancing. The second facility was a $3.85 billion USD five-year revolving credit facility with a maturity of five years. While Bank of China contributed $28,618,421.04 USD to this loan (Record ID#110298), the following lenders also participated: Citibank N.A. ($198,328,229.67), JPMorgan Chase Bank N.A. ($198,328,229.67), Bank of America N.A. ($185,526,315.79), Wells Fargo Bank N.A. ($185,526,315.79), BNP Paribas ($180,000,000.00), Deutsche Bank AG New York Branch ($140,526,315.79), Mizuho Bank Ltd. ($140,526,315.79), Sumitomo Mitsui Banking Corporation ($140,526,315.79), Royal Bank of Canada ($189,419,856.46), Crédit Agricole Corporate and Investment Bank ($146,052,631.58), Barclays Bank PLC ($146,052,631.58), MUFG Bank Ltd. ($114,473,684.21), Société Générale ($114,473,684.21), Banco Santander S.A. New York Branch ($94,736,842.11), Goldman Sachs Bank USA ($94,736,842.11), Morgan Stanley Bank N.A. ($94,736,842.11), DBS Bank Ltd. ($101,526,315.79), Commerzbank AG New York Branch ($96,315,789.47), Standard Chartered Bank ($64,973,684.21), U.S. Bank National Association ($58,500,000.00), The Northern Trust Company ($52,026,315.79), Australia and New Zealand Banking Group Limited ($44,210,526.32), Lloyds Bank Corporate Markets PLC ($44,210,526.32), State Bank of India New York Branch ($44,200,000.00), Westpac Banking Corporation ($44,210,526.32), First Abu Dhabi Bank USA N.V. ($28,618,421.04), and Riyad Bank Houston Agency ($28,618,421.04).