Bank of China contributes to a €700 million EUR syndicated revolving credit facility to CPI Property Group for refinancing purposes

Project narrative

On March 22, 2019, a syndicate of 11 banks — including the Bank of China (BOC) — entered into a €510 million EUR syndicated revolving credit facility (RCF) agreement with CPI Property Group S.A. (CPIPG) — a Luxembourg-incorporated and based real estate company focused on Central and Eastern Europe and listed on the Luxembourg Stock Exchange — for refinancing purposes. The RCF carried a maturity period of three years and was unsecured. The proceeds were to be used by the borrower to replace (refinance) a €150 million EUR RCF originated in March 2018 and a €80 million EUR RCF originated in August 2018 and to finance the borrower's day-to-day and strategic liquidity needs. Record ID#110442 captures BOC's contribution. In addition to BOC, the following lenders contributed to the loan syndicate: Barclays Bank PLC, Credit Suisse AG, Deutsche Bank AG, HSBC Bank, JPMorgan Chase Bank, N.A., Komerční banka, a.s., Nomura Holdings, Raiffeisen Bank International AG, UniCredit S.p.A., and Goldman Sachs Group. Goldman Sachs and BOC were the only new lenders to CPI. As of December 31, 2019, there was no outstanding balance on the facility. The RCF was never drawn. On November 24, 2020, a syndicate of 10 banks — including BOC — entered into a €700 million EUR syndicated RCF with CPI Property Group for refinancing purposes. This RCF carried a maturity period of approximately 5.166 years, a final maturity date in January 2026, an interest rate based on EURIBOR plus a margin, and was unsecured. The proceeds were to be used by the borrower to replace (refinance) the March 2019 €510 million EUR RCF (which was then terminated) and for the borrower's day-to-day and liquidity needs. Record ID#110458 captures BOC's contribution. In addition to BOC, the following lenders contributed to the loan syndicate: Barclays Bank PLC, Banco Santander, S.A., Credit Suisse AG, HSBC Bank, JPMorgan Chase Bank, N.A., Komerční banka, a.s., Raiffeisen Bank International AG, UniCredit S.p.A., and Goldman Sachs Group. As of December 31, 2020, there was no outstanding balance on the facility. As of December 31, 2021, there was no outstanding balance on the facility. As of December 31, 2022, there was no outstanding balance on the facility. As of December 31, 2023, there was an open amount of €490 million EUR on the facility. As of December 31, 2024, there was no open amount.