Confirmation of Termination Date Extension to $2,500,000,000 Amended and Restated Three-Year Credit Agreement dated as of July 18, 2018, among International Business Machines Corporation and IBM Credit LLC, as Borrowers, the several banks and other financial institutions from time to time parties to such agreement, JPMorgan Chase Bank, N.A., as Administrative Agent, BNP Paribas, Citibank, N.A., Royal Bank of Canada and Mizuho Bank, Ltd., as Syndication Agents, and the Documentation Agents named therein
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EX-10.2 3 ex10-2.htm AMENDED AND RESTATED THREE-YEAR CREDIT AGREEMENT
Exhibit 10.2
| JPMORGAN CHASE BANK, N.A. 383 Madison Avenue New York, New York 10179 |
July 18, 2019
International Business Machines Corporation
One New Orchard Road
Armonk, New York 10504
Attention: Heather Wilson
Ladies and Gentlemen:
Reference is made to (i) the Amended and Restated Three-Year Credit Agreement, dated as of July 19, 2018 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”) among International Business Machines Corporation, a New York corporation (“IBM”), and its Subsidiary IBM Credit LLC, the Lenders party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent and the other agents named therein and (ii) the Extension Request, dated as of July 11, 2019 (the “Extension Request”), delivered by IBM to the Administrative Agent pursuant to Section 2.21(a) of the Credit Agreement. Capitalized terms used but not defined herein are used with the meanings assigned to them in the Credit Agreement.
We hereby confirm that, prior to the Extension Request Deadline specified in the Extension Request, we have received executed consents to the extension of the Termination Date requested in the Extension Request from each of the Lenders listed on Schedule 1 hereto extending the Termination Date with respect to the Revolving Credit Commitments of such consenting Lenders to July 20, 2022. Also listed on Schedule 1 are each Lender’s respective Revolving Credit Commitment under the Credit Agreement as of the date hereof.
| Very truly yours, | ||||
| JPMORGAN CHASE BANK, N.A., as Administrative Agent | ||||
| | By: | /s/ Inderjeet Singh Aneja | ||
| Name: | Inderject Singh Aneja | |||
| Title: | Vice President | |||
Schedule 1
| Lender | Revolving Credit Commitment | |
| 1. | JPMorgan Chase Bank, N.A. | $145,000,000 |
| 2. | BNP Paribas | $145,000,000 |
| 3. | Citibank, N.A. | $145,000,000 |
| 4. | Royal Bank of Canada | $145,000,000 |
| 5. | Mizuho Bank, Ltd. | $110,000,000 |
| 6. | Bank of America, N.A. | $100,000,000 |
| 7. | Barclays Bank PLC | $100,000,000 |
| 8. | Deutsche Bank AG New York Branch | $100,000,000 |
| 9. | HSBC Bank USA N.A. | $100,000,000 |
| 10. | Wells Fargo Bank, N.A. | $100,000,000 |
| 11. | Societe Generale | $100,000,000 |
| 12. | Banco Santander, S.A. | $100,000,000 |
| 13. | MUFG Bank, Ltd. | $100,000,000 |
| 14. | Commerzbank AG, New York Branch | $75,000,000 |
| 15. | Credit Suisse, Cayman Islands Branch | $75,000,000 |
| 16. | Goldman Sachs Bank USA | $75,000,000 |
| 17. | ING Bank N.V., Dublin Branch | $75,000,000 |
| 18. | Sumitomo Mitsui Banking Corporation | $75,000,000 |
| 19. | Toronto Dominion (New York) LLC | $75,000,000 |
| 20. | U.S. Bank National Association | $75,000,000 |
| 21. | UniCredit Bank AG, New York Branch | $75,000,000 |
| 22. | Bank of China, New York Branch | $45,000,000 |
| 23. | Australia and New Zealand Banking Group Limited | $45,000,000 |
| 24. | DBS Bank Ltd. | $45,000,000 |
| 25. | Standard Chartered Bank | $45,000,000 |
| 26. | The Bank of Nova Scotia | $45,000,000 |
| 27. | PNC Bank, National Association | $45,000,000 |
| 28. | Banco Bilbao Vizcaya Argentaria, S.A., New York Branch | $20,000,000 |
| 29. | Banco Bradesco S.A., New York Branch | $20,000,000 |
| 30. | Canadian Imperial Bank of Commerce, New York Branch | $20,000,000 |
| 31. | Danske Bank A/S | $20,000,000 |
| 32. | Lloyds Bank Corporate Markets plc | $20,000,000 |
| 33. | The Northern Trust Company | $20,000,000 |
| 34. | Raiffeisen Bank International AG | $20,000,000 |
| 35. | Total: | $2,500,000,000 |
