Bank of China contributes JPY 4 billion to a 2017 JPY 50 billion syndicated revolving loan to Prologis Marunouchi Finance Investment Limited Partnership for general corporate, working capital, and refinancing purposes (Linked to Record ID#99272)

Project narrative

On February 16, 2017, a syndicate of eight banks — including the Tokyo Branch of the Bank of China (BOC) — signed a JPY 50,000,000,000 syndicated revolving credit agreement with Prologis Marunouchi Finance Investment Limited Partnership — a Japanese subsidiary of American industrial real estate investment trust Prologis, Inc. — for general corporate, working capital, and refinancing purposes. This loan carried a maturity period of four years and maturity date of February 16, 2021, which could be extended by one year to February 16, 2022 at the borrower's option and fulfill of necessary conditions. The borrower should elect different interest rate for each borrowing under the loan, with options including base rate interest (which could be converted to Yen LIBOR) and Yen LIBOR interest (which could be convert to base rates). The loan was governed under the laws of the State of New York. Prologis, L.P. and Prologis, Inc. issued guarantees in support of this loan. Prologis Marunouchi Finance Investment Limited Partnership served as the initial borrower, with initial qualified borrowers including Prologis Japan Finance Investment Limited Partnership and Prologis, L.P. BOC Tokyo Branch committed JPY 4,000,000,000 to the loan syndicate: In addition to BOC, the following banks contributed the respective amounts to the loan syndicate: Sumitomo Mitsui Banking Corporation (SMBC) (JPY 15,000,000,000), The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) (JPY 8,000,000,000), Mizuho Bank (JPY 8,000,000,000), Mitsubishi UFJ Trust and Banking Corporation (JPY 5,000,000,000), Sumitomo Mitsui Trust Bank, Ltd. (SMTB) (JPY 5,000,000,000), Shinsei Bank (JPY 3,000,000,000), and The Bank of Nova Scotia (Scotiabank) (JPY 2,000,000,000). SMBC served as the administrative agent and sole bookrunner. Mitsubishi UFJ Trust and Banking and SMTB served as managing agents. SMBC, BTMU, and Mizuho served as joint lead arrangers. This loan restated a August 14, 2013 revolving credit agreement provided by a banking syndicate to Prologis Japan Finance G.K. The proceeds were to be used by the borrower(s) for working capital purposes, capital expenditure purposes, development, acquisitions, and other corporate purposes such as hedging, investing, and refinancing the existing revolving credit agreement. On July 10, 2020 a syndicate of six banks — including the Tokyo Branch of BOC, which committed JPY 4 billion — signed a JPY 55,000,000,000 syndicated revolving credit agreement with Prologis Marunouchi Finance Investment Limited Partnership — for general corporate, working capital, and refinancing purposes. This loan restated the February 16, 2017 JPY 50 billion revolving credit agreement, and its proceeds were to be used by the borrower(s) for working capital purposes, capital expenditure purposes, development, acquisitions, and other corporate purposes such as hedging, investing, and refinancing the existing revolving credit agreement. Record ID#99272 captures BOC's contribution to that loan.