Bank of China contributes to $2 billion revolving credit facility to Mubadala (Linked to Record ID#98913, #98915)

Project narrative

On May 1, 2019, Agricultural Bank of China (ABC) (#98913), Bank of China (BOC) (#989134), and Industrial and Commercial Bank of China (ICBC) (#989135) each contributed an estimated $71.43 million to a $2 billion loan to Mubadala, Abu Dhabi's sovereign wealth fund, to refinance a previous $1.75 billion loan signed in 2016 (#98911, #98912). The loan had five-year maturity and an unknown interest rate- however, it was widely speculated at the time that the new loan's pricing would be at or below the previous level of 45bps (0.45%) for undrawn funds and 95bps (0.95%) for fully drawn credit. Twenty-eight (28) institutions participated in the lending syndicate, all acting as mandated lead arrangers (MLAs). These institutions were: Societe Generale, Agricultural Bank of China (ABC), ANZ Bank, BofA Securities, Bank of Montreal, Barclays, BNP Paribas, Bank of China (BOC), Credit Agricole CIB, CaixaBank, Citibank, Credit Suisse, Deutsche Bank, DBS Bank, Emirates NBD, National Bank of Abu Dhabi (NBA), HSBC, Industrial and Commercial Bank of China (ICBC), ING Bank, Intesa Sanpaolo, JP Morgan, Mizuho, MUFG, Natixis, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation (SMBC), UniCredit, and Morgan Stanley.