ICBC contributes to $1.8 billion USD to syndicated term loan facility to Tyson Foods for acquisition of AdvancePierre Foods Holdings in 2017 (Linked to Record ID#110699, #110698, #110701 and #110702)

Project narrative

On May 12, 2017, financial close was reached on a deal in which a syndicate of 38 banks — including Bank of China, ICBC, Bank of Communications, Agricultural Bank of China, and China Construction Bank — entered into a $1.8 billion USD syndicated loan agreement with Tyson Foods, Inc., a Springdale, Arkansas-based multinational corporation engaged in the production of processed foods, especially beef, chicken, and pork — to finance its acquisition of AdvancePierre Foods Holdings Inc. 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 to acquire AdvancePierre Foods Holdings Inc., a Cincinnati-based producer and distributor of ready-to-eat sandwiches, entrees, and snacks for foodservice and retail customers, further expanding Tyson’s portfolio in the packaged and prepared food market. While Agricultural Bank of China (Record ID#110698), Bank of China (Record ID#110699), ICBC (Record ID#110700), Bank of Communications (Record ID#110701), and China Construction Bank (Record ID#110702) each contributed to this loan, the following lenders also participated: Morgan Stanley Bank, N.A.; Morgan Stanley Senior Funding, Inc.; Bank of America, N.A.; JPMorgan Chase Bank, N.A.; Coöperatieve Rabobank U.A., New York Branch; U.S. Bank National Association; Wells Fargo Bank, N.A.; ABN AMRO Capital USA LLC; Branch Banking and Trust Company; Fifth Third Bank; ING Capital LLC; Mediobanca International (Luxembourg) S.A.; Sumitomo Mitsui Banking Corporation; TD Bank, N.A.; Arvest Bank; Barclays Bank PLC; The Bank of Tokyo-Mitsubishi UFJ, Ltd.; Mizuho Bank, Ltd.; Royal Bank of Canada; City National Bank; The Bank of Nova Scotia; State Bank of India, Chicago; Metropolitan Life Insurance Company; The Bank of East Asia, Limited, New York Branch; The Bank of New York Mellon; Commerzbank AG, New York Branch; The Huntington National Bank; PNC Bank, National Association; Chang Hwa Commercial Bank, Ltd.; Comerica Bank; Credit Agricole Corporate and Investment Bank; Goldman Sachs Bank USA; and Regions Bank. On June 7, 2017, the acquisition was completed.