Bank of China contributes to $750 million USD syndicated credit facility to Albemarle Corporation and subsidiary for general corporate and debt refinancing purposes in 2004 (Linked to Record ID#110663 and #110665)

Project narrative

On September 10, 2002, financial close was reached on a deal in which a syndicate of 11 banks — including Bank of China — entered into a $275,000,000 USD syndicated loan agreement with Albemarle Corporation — a specialty chemicals manufacturing company headquartered in Charlotte, North Carolina, United States. The maturity of the loan is 3 years, and the interest rate is LIBOR plus an applicable margin. The proceeds were used by the borrower for general corporate purposes, refinancing existing indebtedness, financing acquisitions, repurchasing common stock, working capital, and capital expenditures. While Bank of China contributed $35,000,000 USD to this loan (Record ID#110663), the following lenders also participated: Bank of America, N.A. ($60,000,000 USD), Fortis (USA) Finance LLC ($60,000,000 USD), The Bank of New York ($45,000,000 USD), SunTrust Bank ($45,000,000 USD), Bank One, NA ($35,000,000 USD), Sumitomo Mitsui Banking Corporation ($25,000,000 USD), National City Bank ($20,000,000 USD), The Norinchukin Bank ($20,000,000 USD), Whitney National Bank ($20,000,000 USD), and Merrill Lynch Business Financial Services Inc. ($10,000,000 USD). On July 29, 2004, financial close was reached on a deal in which a syndicate of 21 banks — including Bank of China — entered into a $750,000,000 USD syndicated loan agreement with Albemarle Corporation — a specialty chemicals manufacturing company headquartered in Charlotte, North Carolina, United States. The loan consisted of a $300,000,000 USD revolving credit facility and a $450,000,000 USD term loan facility. The maturity of the loan is 5 years, and the interest rate is LIBOR plus an applicable margin. This loan was guaranteed by a number of Albemarle’s subsidiaries, including Albemarle Overseas Development Corporation, Albemarle Virginia Corporation, Albemarle International Corporation, ACI Delaware Corporation, Albemarle Catalysts U.S., L.L.C., Albemarle Delaware One, L.L.C., Albemarle Delaware Two, L.L.C., Albemarle Catalysts Company, LP, Albemarle Asia Pacific Company, Albemarle China Corporation, and Albemarle Agricultural Holdings LLC. The proceeds were used by the borrower for general corporate purposes and refinancing existing debt obligations. While Bank of China contributed to this loan (Record ID#110664), the following lenders also participated: Bank of America, N.A.; UBS Loan Finance LLC; The Bank of New York; SunTrust Bank; National City Bank; The Norinchukin Bank; Sumitomo Mitsui Banking Corp.; JPMorgan Chase Bank, N.A.; ABN AMRO Bank N.V.; Commerzbank AG; Calyon New York Branch; Fortis Capital Corp.; Mizuho Corporate Bank, Ltd.; UFJ Bank Limited; Wachovia Bank; Bank of Tokyo-Mitsubishi; Royal Bank of Scotland; Allied Irish Bank; AIB Debt Management Ltd; Branch Banking and Trust Company; and Whitney National Bank. On March 23, 2007, financial close was reached on a deal in which a syndicate of 15 banks — including Bank of China — entered into a $675,000,000 USD syndicated loan agreement with Albemarle Corporation, Albemarle Europe SPRL, and Albemarle Netherlands BV — a global specialty chemicals company headquartered in Charlotte, North Carolina, United States, with European operations in Belgium and the Netherlands. The loan was a five-year revolving, unsecured credit facility, and the interest rate was LIBOR plus an applicable margin. The proceeds were used by the borrowers for general corporate purposes, refinancing existing indebtedness, financing acquisitions, repurchasing common stock, working capital, and capital expenditures. While Bank of China contributed to this loan (Record ID#110665), the following lenders also participated: Bank of America, N.A.; Wachovia Bank; ABN AMRO Bank N.V.; The Bank of New York; The Bank of Tokyo-Mitsubishi UFJ, Ltd.; Fortis Bank S.A./N.V.; SunTrust Bank; JPMorgan Chase Bank, N.A.; Mizuho Corporate Bank (USA); Sumitomo Mitsui Banking Corporation; UBS Loan Finance LLC; Branch Banking & Trust Company; Merrill Lynch Capital Corporation; and Whitney National Bank.