ICBC contributes $44 million USD to $1.5 billion USD 364-day syndicated revolving credit facility to Honeywell International for general corporate purposes in 2019 (Linked to Record ID#110549)

Project narrative

On April 29, 2016, financial close was reached on a deal in which a syndicate of 36 banks — including ICBC and Bank of China — entered into a $1.5 billion USD syndicated loan agreement with Honeywell International Inc., a U.S.-based multinational conglomerate known for its operations in aerospace, building technologies, performance materials, and safety and productivity solutions. The maturity of the loan is one year, and the interest rate is LIBOR plus an applicable margin. The use of proceeds was for general corporate purposes. The proceeds were used by the borrower for general corporate purposes, which typically include working capital, refinancing existing debt, acquisitions, or capital expenditures. While ICBC and Bank of China contributed $45,000,000 USD (Record ID#110541) and $25,000,000 USD (Record ID#110543) respectively to this loan, the following lenders also participated: Citibank, N.A. ($90,000,000); JPMorgan Chase Bank, N.A. ($90,000,000); Bank of America, N.A. ($65,000,000); Barclays Bank PLC ($65,000,000); Deutsche Bank AG New York Branch ($65,000,000); Goldman Sachs Bank USA ($65,000,000); The Bank of Tokyo-Mitsubishi UFJ, Ltd. ($39,000,000); Morgan Stanley Bank, N.A. ($26,000,000); Wells Fargo Bank, National Association ($65,000,000); Banco Bilbao Vizcaya Argentaria, S.A. New York Branch ($45,000,000); BNP Paribas ($45,000,000); HSBC Bank USA, National Association ($45,000,000); Intesa Sanpaolo S.p.A. – New York Branch ($45,000,000); Mizuho Bank, Ltd. ($45,000,000); Royal Bank of Canada ($45,000,000); Societe Generale ($45,000,000); Standard Chartered Bank ($45,000,000); Sumitomo Mitsui Banking Corporation ($45,000,000); The Northern Trust Company ($45,000,000); The Royal Bank of Scotland plc ($45,000,000); Toronto Dominion (Texas) LLC ($45,000,000); U.S. Bank National Association ($45,000,000); Australia and New Zealand Banking Group Limited ($25,000,000); Banco Santander, S.A. ($25,000,000); Bayerische Landesbank, New York Branch ($25,000,000); Credit Agricole Corporate & Investment Bank ($25,000,000); Danske Bank A/S ($25,000,000); DBS Bank Ltd. ($25,000,000); ICICI Bank Limited New York Branch ($25,000,000); The Bank of New York Mellon ($25,000,000); The Bank of Nova Scotia ($25,000,000); UniCredit Bank AG, New York Branch ($25,000,000); and Westpac Banking Corporation ($25,000,000). On April 28, 2017, financial close was reached on a deal in which a syndicate of 35 banks — including ICBC and Bank of China — entered into a $1.5 billion USD syndicated loan agreement with Honeywell International Inc., a U.S.-based multinational conglomerate known for its operations in aerospace, building technologies, performance materials, and safety and productivity solutions. The maturity of the loan is one year, and the interest rate is LIBOR plus an applicable margin. The use of proceeds was for general corporate purposes. This loan was arranged to replace the company’s previous $1.5 billion USD 364-day credit facility signed in April 2016. The proceeds were used by the borrower for general corporate purposes, which may include refinancing of maturing credit facilities, working capital, acquisitions, and other corporate needs. While ICBC and Bank of China contributed $45,000,000 USD (Record ID#110544) and $25,000,000 USD (Record ID#110545) respectively to this loan, the following lenders also participated: Citibank, N.A. ($92,500,000); JPMorgan Chase Bank, N.A. ($92,500,000); Bank of America, N.A. ($67,500,000); Barclays Bank PLC ($67,500,000); Deutsche Bank AG New York Branch ($67,500,000); Goldman Sachs Bank USA ($67,500,000); The Bank of Tokyo-Mitsubishi UFJ, Ltd. ($40,500,000); Morgan Stanley Bank, N.A. ($27,000,000); Wells Fargo Bank, National Association ($67,500,000); Banco Bilbao Vizcaya Argentaria, S.A. New York Branch ($45,000,000); BNP Paribas ($45,000,000); HSBC Bank USA, National Association ($45,000,000); Mizuho Bank, Ltd. ($45,000,000); Royal Bank of Canada ($45,000,000); Societe Generale ($45,000,000); Standard Chartered Bank ($45,000,000); Sumitomo Mitsui Banking Corporation ($45,000,000); The Northern Trust Company ($45,000,000); The Royal Bank of Scotland plc ($45,000,000); The Toronto-Dominion Bank, New York Branch ($45,000,000); U.S. Bank National Association ($45,000,000); Australia and New Zealand Banking Group Limited ($25,000,000); Bayerische Landesbank, New York Branch ($25,000,000); Canadian Imperial Bank of Commerce, New York Branch ($25,000,000); Credit Agricole Corporate & Investment Bank ($25,000,000); Danske Bank A/S ($25,000,000); DBS Bank Ltd. ($25,000,000); ICICI Bank Limited New York Branch ($25,000,000); Intesa Sanpaolo S.p.A. – New York Branch ($25,000,000); The Bank of New York Mellon ($25,000,000); The Bank of Nova Scotia ($25,000,000); UniCredit Bank AG, New York Branch ($25,000,000); and Westpac Banking Corporation ($25,000,000). On April 27, 2018, financial close was reached on a deal in which a syndicate of 34 banks — including ICBC and Bank of China — entered into a $1.5 billion USD syndicated loan agreement with Honeywell International Inc., a U.S.-based multinational conglomerate known for its operations in aerospace, building technologies, performance materials, and safety and productivity solutions. The maturity of the loan is one year, and the interest rate is LIBOR plus an applicable margin. The use of proceeds was for general corporate purposes. The proceeds were used by the borrower for general corporate purposes, including working capital, debt refinancing, or funding general business activities. While ICBC and Bank of China contributed $45,000,000 USD (Record ID#110546) and $25,000,000 USD (Record ID#110547) respectively to this loan, the following lenders also participated: Citibank, N.A. ($90,500,000); JPMorgan Chase Bank, N.A. ($90,500,000); Bank of America, N.A. ($69,000,000); Barclays Bank PLC ($69,000,000); Deutsche Bank AG New York Branch ($69,000,000); Goldman Sachs Bank USA ($69,000,000); MUFG Bank, Ltd. ($41,400,000); Morgan Stanley Bank, N.A. ($27,600,000); Wells Fargo Bank, National Association ($69,000,000); Banco Bilbao Vizcaya Argentaria S.A., New York Branch ($45,000,000); BNP Paribas ($45,000,000); DBS Bank Ltd. ($45,000,000); HSBC Bank USA, National Association ($45,000,000); Mizuho Bank, Ltd. ($45,000,000); Royal Bank of Canada ($45,000,000); Societe Generale ($45,000,000); Standard Chartered Bank ($45,000,000); Sumitomo Mitsui Banking Corporation ($45,000,000); The Northern Trust Company ($45,000,000); The Royal Bank of Scotland plc ($45,000,000); The Toronto-Dominion Bank, New York Branch ($45,000,000); U.S. Bank National Association ($45,000,000); Australia and New Zealand Banking Group Limited ($25,000,000); Bayerische Landesbank, New York Branch ($25,000,000); Canadian Imperial Bank of Commerce, New York Branch ($25,000,000); Credit Agricole Corporate and Investment Bank ($25,000,000); Danske Bank A/S ($25,000,000); Intesa Sanpaolo S.p.A. – New York Branch ($25,000,000); Santander Bank N.A. ($25,000,000); The Bank of Nova Scotia ($25,000,000); UniCredit Bank AG, New York Branch ($25,000,000); and Westpac Banking Corporation ($25,000,000). On April 26, 2019, financial close was reached on a deal in which a syndicate of 34 banks — including ICBC and Bank of China — entered into a $1.5 billion USD syndicated loan agreement with Honeywell International Inc., a U.S.-based multinational conglomerate known for its operations in aerospace, building technologies, performance materials, and safety and productivity solutions. The maturity of the loan is one year, and the interest rate is LIBOR plus an applicable margin. The use of proceeds was for general corporate purposes. The proceeds were used by the borrower for general corporate purposes, which typically include short-term liquidity needs, refinancing of existing facilities, acquisitions, and other strategic initiatives. While ICBC and Bank of China contributed $44,000,000 USD (Record ID#110548) and $24,000,000 USD (Record ID#110549) respectively to this loan the following lenders also participated: Citibank, N.A. ($89,000,000); JPMorgan Chase Bank, N.A. ($89,000,000); Bank of America, N.A. ($67,000,000); Barclays Bank PLC ($67,000,000); Deutsche Bank AG New York Branch ($67,000,000); Goldman Sachs Bank USA ($67,000,000); MUFG Bank, Ltd. ($40,200,000); Morgan Stanley Bank, N.A. ($26,800,000); Wells Fargo Bank, National Association ($67,000,000); Banco Bilbao Vizcaya Argentaria S.A., New York Branch ($44,000,000); Banco Santander S.A., New York Branch ($44,000,000); BNP Paribas ($44,000,000); DBS Bank Ltd. ($44,000,000); HSBC Bank USA, National Association ($44,000,000); Mizuho Bank, Ltd. ($44,000,000); National Westminster Bank plc ($44,000,000); Royal Bank of Canada ($44,000,000); Societe Generale ($44,000,000); Standard Chartered Bank ($44,000,000); Sumitomo Mitsui Banking Corporation ($44,000,000); The Northern Trust Company ($44,000,000); The Toronto-Dominion Bank, New York Branch ($44,000,000); U.S. Bank National Association ($44,000,000); UniCredit Bank AG, New York Branch ($44,000,000); Australia and New Zealand Banking Group Limited ($24,000,000); Bayerische Landesbank, New York Branch ($24,000,000); Canadian Imperial Bank of Commerce, New York Branch ($24,000,000); Credit Agricole Corporate and Investment Bank ($24,000,000); Danske Bank A/S ($24,000,000); Intesa Sanpaolo S.p.A. — New York Branch ($24,000,000); The Bank of Nova Scotia ($24,000,000); and Westpac Banking Corporation ($24,000,000). On April 10, 2020, financial close was reached on a deal in which a syndicate of 31 banks — including ICBC and Bank of China — entered into a $1.5 billion USD syndicated loan agreement with Honeywell International Inc., a U.S.-based multinational conglomerate known for its operations in aerospace, building technologies, performance materials, and safety and productivity solutions. The maturity of the loan is one year, and the interest rate is LIBOR plus an applicable margin. The use of proceeds was for general corporate purposes. The proceeds were used by the borrower for general corporate purposes, likely including short-term liquidity support during the COVID-19 pandemic, refinancing of maturing obligations, and funding general operations. While ICBC and Bank of China contributed $44,000,000 USD (Record ID#110550) and $24,000,000 USD (Record ID#110551) respectively to this loan, the following lenders also participated: Citibank, N.A. ($98,000,000); JPMorgan Chase Bank, N.A. ($98,000,000); Bank of America, N.A. ($76,000,000); Barclays Bank PLC ($76,000,000); Deutsche Bank AG New York Branch ($76,000,000); Goldman Sachs Bank USA ($76,000,000); MUFG Bank, Ltd. ($45,600,000); Morgan Stanley Bank, N.A. ($30,400,000); Wells Fargo Bank, National Association ($76,000,000); Banco Bilbao Vizcaya Argentaria S.A., New York Branch ($44,000,000); Banco Santander S.A., New York Branch ($44,000,000); BNP Paribas ($44,000,000); DBS Bank Ltd. ($44,000,000); HSBC Bank USA, National Association ($44,000,000); Mizuho Bank, Ltd. ($44,000,000); National Westminster Bank plc ($44,000,000); Royal Bank of Canada ($44,000,000); Societe Generale ($44,000,000); Standard Chartered Bank ($44,000,000); Sumitomo Mitsui Banking Corporation ($44,000,000); The Northern Trust Company ($44,000,000); The Toronto Dominion Bank, New York Branch ($44,000,000); U.S. Bank National Association ($44,000,000); UniCredit Bank AG, New York Branch ($44,000,000); Australia and New Zealand Banking Group Limited ($24,000,000); Canadian Imperial Bank of Commerce, New York Branch ($24,000,000); Credit Agricole Corporate and Investment Bank ($24,000,000); Danske Bank A/S ($24,000,000); and The Bank of Nova Scotia ($24,000,000). On March 31, 2021, financial close was reached on a deal in which a syndicate of 31 banks — including ICBC and Bank of China — entered into a $1.5 billion USD syndicated loan agreement with Honeywell International Inc., a U.S.-based multinational conglomerate known for its operations in aerospace, building technologies, performance materials, and safety and productivity solutions. The maturity of the loan is one year, and the interest rate is LIBOR plus an applicable margin. The use of proceeds was for general corporate purposes. The proceeds were used by the borrower for general corporate purposes, which may include ongoing operational expenses, debt refinancing, liquidity management, and other corporate investments. While ICBC and Bank of China contributed $37,000,000 USD (Record ID#110552) and $21,750,000 USD (Record ID#110553) respectively to this loan, the following lenders also participated: Bank of America, N.A. ($86,000,000); JPMorgan Chase Bank, N.A. ($86,000,000); Wells Fargo Bank, National Association ($86,000,000); Citibank, N.A. ($69,000,000); Deutsche Bank AG New York Branch ($69,000,000); Goldman Sachs Bank USA ($69,000,000); Mizuho Bank, Ltd. ($69,000,000); MUFG Bank, Ltd. ($41,400,000); Morgan Stanley Bank, N.A. ($27,600,000); Sumitomo Mitsui Banking Corporation ($69,000,000); Banco Bilbao Vizcaya Argentaria, S.A. New York Branch ($53,000,000); BNP Paribas ($53,000,000); Societe Generale ($53,000,000); The Toronto Dominion Bank, New York Branch ($53,000,000); U.S. Bank National Association ($53,000,000); UniCredit Bank AG, New York Branch ($53,000,000); Santander Bank, N.A. ($53,000,000); Barclays Bank PLC ($37,000,000); Credit Agricole Corporate and Investment Bank ($37,000,000); DBS Bank Ltd. ($37,000,000); HSBC Bank USA, National Association ($37,000,000); National Westminster Bank plc ($37,000,000); Royal Bank of Canada ($37,000,000); Standard Chartered Bank ($37,000,000); The Bank of Nova Scotia ($37,000,000); The Northern Trust Company ($37,000,000); Australia and New Zealand Banking Group Limited ($21,750,000); Canadian Imperial Bank of Commerce, New York Branch ($21,750,000); and Danske Bank A/S ($21,750,000). On March 24, 2022, financial close was reached on a deal in which a syndicate of 31 banks — including ICBC and Bank of China — entered into a $1.5 billion USD syndicated loan agreement with Honeywell International Inc., a U.S.-based multinational conglomerate known for its operations in aerospace, building technologies, performance materials, and safety and productivity solutions. The maturity of the loan is one year, and the interest rate is LIBOR plus an applicable margin. The use of proceeds was for general corporate purposes. The proceeds were used by the borrower for general corporate purposes, such as short-term working capital needs, refinancing obligations, or maintaining liquidity for strategic operations. While ICBC and Bank of China contributed $37,000,000 USD (Record ID#110554) and $21,750,000 USD (Record ID#110555) respectively to this loan, the following lenders also participated: Bank of America, N.A. ($86,000,000); JPMorgan Chase Bank, N.A. ($86,000,000); Wells Fargo Bank, National Association ($86,000,000); Citibank, N.A. ($69,000,000); Deutsche Bank AG New York Branch ($69,000,000); Goldman Sachs Bank USA ($69,000,000); Mizuho Bank, Ltd. ($69,000,000); MUFG Bank, Ltd. ($41,400,000); Morgan Stanley Bank, N.A. ($27,600,000); Sumitomo Mitsui Banking Corporation ($69,000,000); Banco Bilbao Vizcaya Argentaria, S.A. New York Branch ($53,000,000); BNP Paribas ($53,000,000); Societe Generale ($53,000,000); The Toronto Dominion Bank, New York Branch ($53,000,000); U.S. Bank National Association ($53,000,000); UniCredit Bank AG, New York Branch ($53,000,000); Santander Bank, N.A. ($53,000,000); Barclays Bank PLC ($37,000,000); Credit Agricole Corporate and Investment Bank ($37,000,000); DBS Bank Ltd. ($37,000,000); HSBC Bank USA, National Association ($37,000,000); National Westminster Bank plc ($37,000,000); Royal Bank of Canada ($37,000,000); Standard Chartered Bank ($37,000,000); The Bank of Nova Scotia ($37,000,000); The Northern Trust Company ($37,000,000); Australia and New Zealand Banking Group Limited ($21,750,000); Canadian Imperial Bank of Commerce, New York Branch ($21,750,000); and Danske Bank A/S ($21,750,000). On March 20, 2023, financial close was reached on a deal in which a syndicate of 31 banks — including ICBC and Bank of China — entered into a $1.5 billion USD syndicated loan agreement with Honeywell International Inc., a U.S.-based multinational conglomerate known for its operations in aerospace, building technologies, performance materials, and safety and productivity solutions. The maturity of the loan is one year, and the interest rate is LIBOR plus an applicable margin. The use of proceeds was for general corporate purposes. The proceeds were used by the borrower for general corporate purposes, which may include short-term liquidity needs, working capital, refinancing of existing credit lines, or other day-to-day operational needs. While ICBC and Bank of China contributed $37,000,000 USD (Record ID#110556) and $21,750,000 USD (Record ID#110557) respectively to this loan, the following lenders also participated: Bank of America, N.A. ($86,000,000); JPMorgan Chase Bank, N.A. ($86,000,000); Wells Fargo Bank, National Association ($86,000,000); Citibank, N.A. ($69,000,000); Deutsche Bank AG New York Branch ($69,000,000); Goldman Sachs Bank USA ($69,000,000); Mizuho Bank, Ltd. ($69,000,000); MUFG Bank, Ltd. ($41,400,000); Morgan Stanley Bank, N.A. ($27,600,000); Sumitomo Mitsui Banking Corporation ($69,000,000); Banco Bilbao Vizcaya Argentaria, S.A. New York Branch ($53,000,000); BNP Paribas ($53,000,000); Societe Generale ($53,000,000); The Toronto Dominion Bank, New York Branch ($53,000,000); U.S. Bank National Association ($53,000,000); UniCredit Bank AG, New York Branch ($53,000,000); Santander Bank, N.A. ($53,000,000); Barclays Bank PLC ($37,000,000); Credit Agricole Corporate and Investment Bank ($37,000,000); DBS Bank Ltd. ($37,000,000); HSBC Bank USA, National Association ($37,000,000); National Westminster Bank plc ($37,000,000); Royal Bank of Canada ($37,000,000); Standard Chartered Bank ($37,000,000); The Bank of Nova Scotia ($37,000,000); The Northern Trust Company ($37,000,000); Australia and New Zealand Banking Group Limited ($21,750,000); Canadian Imperial Bank of Commerce, New York Branch ($21,750,000); and Danske Bank A/S ($21,750,000).