Bank of China contributes $15 million USD to $400 million USD 364-day syndicated revolving credit facility to Engelhard Corporation for general corporate purposes in 2002 (Linked to Record ID#110814)

Project narrative

On May 11, 2001, financial close was reached on a deal in which a syndicate of 24 banks — including Bank of China — entered into a $400 million USD syndicated loan agreement with Engelhard Corporation — a U.S.-based specialty chemicals and materials company headquartered in Iselin, New Jersey. The maturity of the loan was 364 days, 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 to this loan (Record ID#110814), the following lenders also participated: The Chase Manhattan Bank (as Administrative Agent), JPMorgan Securities Inc. (as Lead Arranger and Book Manager), Bank of Tokyo-Mitsubishi Trust Company and Wachovia Bank N.A. (as Documentation Agents), Commerzbank AG (as Syndication Agent), Bank of America N.A., Citibank N.A., Mellon Bank N.A., ABN AMRO Bank N.V., The Bank of New York, The Bank of Nova Scotia, Fleet National Bank, Bank One N.A., Norddeutsche Landesbank, The Fuji Bank Ltd., ING Bank N.V., Allfirst Bank, Banca Popolare di Milano, Sumitomo Mitsui Banking Corporation, Westdeutsche Landesbank Girozentrale (New York Branch), IntesaBCI (New York Branch), and SunTrust Bank. On the same, day, the parties entered into a $400 million USD 5 year syndicated revolving credit facility for general corporate purposes. Bank of China's contribution is recorded in Record ID#110815 On May 10, 2002, Engelhard and banks signed into another loan of $400 million USD that has 364-day maturity. Bank of China contributed $15 million USD to the loan (Record ID#110816).