Both GECSPF and BPH belong to the General Electric Co.

Under this agreement GECSPF lent to BPH the amount of CHF500,000,000 in order to repay existing loans denominated in CHF, drawn by the Bank for financing loans in the ordinary course of business.

The loan agreement was concluded for a period of four years with an option to extend it for another four years (until 2018).

The interest rate on the loan is the sum of CHF LIBOR and a margin.

Story provided by Business Financial Newswire