Bank of China contributes $100 million USD to syndicated term loan to Analog Devices for Linear Technology Corporation in 2016 (Linked to Record ID#110484)

Project narrative

On November 21, 2016, financial close was reached on a deal in which a syndicate of banks — including Bank of China and China Construction Bank — entered into two senior unsecured term loan facilities with Analog Devices, Inc., an American semiconductor company headquartered in Wilmington, Massachusetts, specializing in analog, mixed-signal, and digital signal processing (DSP) integrated circuits. The financing included a $2.5 billion USD three-year term loan priced at LIBOR plus 112.5 basis points, and a $2.5 billion USD five-year term loan priced at LIBOR plus 125 basis points. The loans have maturities of three years and five years, respectively. The proceeds were used to fund the company’s proposed acquisition of Linear Technology Corporation, a U.S.-based designer and manufacturer of high-performance analog integrated circuits, along with cash-on-hand, senior long-term notes, and newly-issued shares of Analog Devices’ common stock. While Bank of China Limited, New York Branch contributed $50 million USD to the three-year term loan and $50 million USD to the five-year term loan (Record ID#110483)and China Construction Bank Corporation, New York Branch contributed $20 million USD to the three-year term loan and $20 million USD to the five-year term loan (Record ID#110484), the following lenders also participated: Three-year term loan participants: JPMorgan Chase Bank, N.A. ($138,500,000), Bank of America, N.A. ($138,500,000), The Bank of Tokyo-Mitsubishi UFJ, Ltd. ($138,500,000), Credit Suisse AG, Cayman Islands Branch ($138,500,000), Wells Fargo Bank, National Association ($113,500,000), PNC Bank, National Association ($113,500,000), BMO Harris Bank, N.A. ($100,000,000), DBS Bank Ltd. ($50,000,000), Sumitomo Mitsui Banking Corporation ($390,833,333.34), TD Bank, N.A. ($340,833,333.33), The Bank of New York Mellon ($340,833,333.33), Fifth Third Bank ($175,000,000), Deutsche Bank AG New York Branch ($175,000,000), Goldman Sachs Bank USA ($163,500,000), Morgan Stanley Senior Funding, Inc. ($138,500,000), Svenska Handelsbanken AB (publ), New York Branch ($125,000,000), The Chiba Bank, Ltd., New York Branch ($113,500,000), People’s United Bank, National Association ($100,000,000), HSBC Bank USA, National Association ($50,000,000), Liberty Bank ($50,000,000), and others in smaller amounts. Five-year term loan participants: JPMorgan Chase Bank, N.A. ($138,500,000), Bank of America, N.A. ($138,500,000), The Bank of Tokyo-Mitsubishi UFJ, Ltd. ($138,500,000), Credit Suisse AG, Cayman Islands Branch ($138,500,000), Wells Fargo Bank, National Association ($113,500,000), PNC Bank, National Association ($113,500,000), BMO Harris Bank, N.A. ($100,000,000), DBS Bank Ltd. ($50,000,000), Sumitomo Mitsui Banking Corporation ($359,166,666.66), TD Bank, N.A. ($309,166,666.67), The Bank of New York Mellon ($309,166,666.67), Fifth Third Bank ($175,000,000), Deutsche Bank AG New York Branch ($175,000,000), Goldman Sachs Bank USA ($163,500,000), Morgan Stanley Senior Funding, Inc. ($138,500,000), People’s United Bank, National Association ($125,000,000), HSBC Bank USA, National Association ($50,000,000), Svenska Handelsbanken AB (publ), New York Branch ($50,000,000), Liberty Bank ($40,000,000), and The Chiba Bank, Ltd., New York Branch ($12,500,000).