Narrative
Full Description
Project narrative
On April 21, 2011, financial close was reached on a deal in which a syndicate of 39 banks — including ICBC — entered into a €3.000 billion EUR ($4.3453 billion USD) syndicated revolving credit facility agreement with EADS, a European aerospace corporation headquartered in Leiden, Netherlands, which designs, manufactures, and sells civil and military aerospace products worldwide. The maturity of the loan is five years, and the interest rate is EURIBOR plus an applicable margin of 37.5 basis points. The proceeds were used by the borrower for refinancing and for general corporate purposes. ICBC contributed an estimated $111.4 million USD to this loan (Record ID#110383). While ICBC contributed to this loan, the following lenders also participated: Banco Santander, Bank of Tokyo-Mitsubishi UFJ, Barclays Capital, BBVA, BNP Paribas, Citi, Commerzbank, Crédit Agricole, Crédit Mutuel-CIC, Deutsche Bank, HSBC, Mizuho, Natixis, Société Générale, Royal Bank of Scotland, UniCredit, ANZ, Bank of America Merrill Lynch, BayernLB, Credit Suisse, DZ Bank, Goldman Sachs, Helaba, ING, Intesa Sanpaolo, JP Morgan, KfW, Lloyds Banking Group, Morgan Stanley, RBC, SMBC, UBS, Commonwealth Bank of Australia, DBS Bank, Erste Group, SEB, TD Bank, and Westpac. On October 15, 2014, financial close was reached on a deal in which a syndicate of 37 banks — including ICBC — entered into a €3.000 billion EUR ($3.8046 billion USD) syndicated revolving credit facility agreement with Airbus Group (formerly EADS). This facility replaced the €3.000 billion EUR facility signed in April 2011. The maturity of the loan is five years, and the interest rate is EURIBOR plus an applicable margin (margin not disclosed). The proceeds were used by the borrower for general corporate purposes. ICBC contributed to this loan (Record ID#110385). While ICBC contributed to this loan, the following lenders also participated: BNP Paribas, Société Générale, Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank, The Royal Bank of Scotland plc, Barclays Bank plc, Citibank N.A., Banco Bilbao Vizcaya Argentaria S.A., Banco Santander S.A., Deutsche Bank AG, HSBC France, ING Bank N.V., J.P. Morgan plc, and UniCredit Bank AG.
Staff comments
1. The entirety of the loan contracts is not available. 2. Airbus SE (formerly EADS) is a European multinational aerospace corporation headquartered in Leiden, Netherlands, but daily management is conducted from the company's main office located in Blagnac, France due to its strong French roots. The company was originally created through the merger of French, German companies with the additions of Spanish and British companies. It designs, manufactures, and sells civil and military aerospace products worldwide and has three main divisions: Commercial Aircraft, Defence and Space, and Helicopters. 3. For the April 2011 facility, AidData estimates the interest rate by adding the 6-month average EURIBOR rate in April 2011 and the applicable margin of 0.375%. 4. While the credit facility is in Euros, one source suggested that ICBC contributed $111.4 million USD approximately. Therefore, the USD amount is used.