Bank of China contributes $30 million USD to $1.5 billion USD syndicated revolving credit facility to ERP Operating Limited Partnership for general corporate purposes in 2007

Project narrative

On February 28, 2007, financial close was reached on a deal in which a syndicate of 29 banks — including Bank of China — entered into a $1.5 billion USD syndicated revolving credit facility agreement with ERP Operating Limited Partnership — a U.S.-based real estate investment trust focused on apartment properties. The maturity of the loan was 5 years, and the interest rate was LIBOR plus an applicable margin. The proceeds were used by the borrower for general corporate purposes. While Bank of China contributed $30 million USD to this loan, the following lenders also participated: Bank of America ($60M), JPMorgan Chase ($60M), SunTrust Bank ($55M), Wachovia Bank ($55M), Wells Fargo Bank ($55M), Eurohypo AG ($50M), U.S. Bank ($55M), LaSalle Bank ($55M), Royal Bank of Scotland ($55M), Citicorp North America ($55M), Deutsche Bank AG ($55M), Lehman Commercial Paper Inc. ($55M), Merrill Lynch Bank USA ($55M), Morgan Stanley Bank ($55M), Mizuho Corporate Bank ($55M), Bank of Tokyo-Mitsubishi UFJ ($50M), Bank of New York ($50M), Comerica Bank ($35M), Bank Hapoalim ($30M), Union Bank of California ($30M), Malayan Banking Berhad ($25M), Mega International Commercial Bank ($20M), Northern Trust ($25M), People’s Bank ($25M), Sumitomo Mitsui Banking Corp. ($25M), First Horizon Bank ($15M), and United Overseas Bank ($10M).