China National Chemical Corporation Limited (“ChemChina”) has today launched a USD 5.5 billion Syndicated Term Loan Facility (“Facility”) to refinance the existing USD12.7bn holdco facility(“Existing Facility”). The Facility has been fully underwritten by more than 15 Chinese and International financial institutions including Banco Santander, S.A.; Bank of America, N.A., The Bank of Tokyo-Mitsubishi UFJ, Ltd.; Barclays Bank PLC, BNP Paribas, China Citic Bank Corporation Limited, China Citic Bank International Limited, Commerzbank AG, Coöperatieve Rabobank U.A., Crédit Agricole Corporate and Investment Bank, Credit Suisse AG, First Abu Dhabi Bank, Industrial Bank Co., Ltd, Natixis, Société Générale, UniCredit Bank AG and UniCredit S.p.A.. In July 2017, ChemChina, through its subsidiary CNAC (HK) Finbridge Company Ltd, issued a USD3bn multiple tranche senior unsecured bond to partially refinance the Existing Facility. It was one of the largest offshore USD bond issuances by Chinese issuers in the Reg S market at the time.

The strategic acquisition of Syngenta by ChemChina is key in supporting China’s objective of agricultural modernization. Syngenta is a diversified and innovative global leader in the agrochemical sector with solid historical financial track record further supported by ChemChina’s and Syngenta’s commitments to maintain Syngenta’s investment grade rating. As such, ChemChina is and remains fully supportive to Syngenta, in order to achieve its strategic objectives and higher credit ratings,in a timely manner.