ICBC contributes $76 million USD to $1.2 billion USD syndicated revolving credit facility to Huntsman International for general corporate purposes in 2018 (Linked to Record ID#110524)

Project narrative

On May 21, 2018, financial close was reached on a deal in which a syndicate of 14 banks — including ICBC — entered into a $1.2 billion USD syndicated revolving credit facility with Huntsman International LLC — a Texas-based global manufacturer and marketer of differentiated chemicals with a focus on polyurethanes, performance products, and advanced materials. 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. While ICBC contributed $76,000,000 USD to this loan (Record ID#110523), the following lenders also participated: JPMorgan Chase Bank, N.A. ($110,000,000 USD), Bank of America, N.A. ($110,000,000 USD), Citibank, N.A. ($110,000,000 USD), Goldman Sachs Bank USA ($110,000,000 USD), PNC Bank, National Association ($110,000,000 USD), Barclays Bank PLC ($76,000,000 USD), BMO Harris Bank N.A. ($76,000,000 USD), Deutsche Bank AG New York Branch ($76,000,000 USD), HSBC Bank USA, N.A. ($76,000,000 USD), Royal Bank of Canada ($76,000,000 USD), SunTrust Bank ($76,000,000 USD), The Toronto-Dominion Bank, New York Branch ($76,000,000 USD), and Morgan Stanley Bank, N.A. ($42,000,000 USD). On May 20, 2022, financial close was reached on a deal in which a syndicate of 16 banks — including ICBC — entered into a $1.2 billion USD syndicated revolving credit facility with Huntsman International LLC. The maturity of the loan is 5 years, and the interest rate is SOFR plus an applicable margin. The facility contains sustainability-linked features, including adjustments to both the commitment fee and the borrowing rate based on the company’s performance in reducing the intensity of greenhouse gas emissions and water consumption. The proceeds were used by the borrower for general corporate purposes. While ICBC contributed to this loan (Record ID#110524), the following lenders also participated: Citibank, N.A.; Bank of America, N.A.; PNC Bank, National Association; The Toronto-Dominion Bank, New York Branch; Truist Bank; BMO Harris Bank N.A.; JPMorgan Chase Bank, N.A.; MUFG Bank, Ltd.; Zions Bancorporation, N.A. dba Amegy Bank; Barclays Bank PLC; HSBC Bank USA, National Association; US Bank National Association; CTBC Bank Co., Ltd., New York Branch; and The Northern Trust Company.