News | Board Minutes | 1998

EXPORT-IMPORT BANK OF THE UNITED STATES
MEETING OF THE LOAN COMMITTEE SUMMARY OF MINUTES
MAY 22, 1998  

ITEM NO: 1.
Country: Mexico               Policy No.:  MTR-189811
Request For:   Insurance Policy (New)      
Policy Type:   Repetitive Sales   Coverage Type/Term: Comprehensive/MT
Insured:       Citibank N.A., N.Y., N.Y.
Buyer/Obligor: Minera Maria S.A. de C.V., Sonora, Mexico.
Guarantor:     Empresas Frisco S.A. de C.V., Mexico, Mexico.
End-User:      Minera Maria S.A. de C.V., Sonora, Mexico.
Exporter:      Multiple exporters 
Supplier:      Multiple suppliers 
Product:       Mining equipment.
Eximbank Liability (MILLIONS): USD1 - USD5
Loan Committee Decision: APPROVED

                   EXPORT-IMPORT BANK OF THE UNITED STATES
                  SUMMARY OF MINUTES OF MEETING OF BOARD OF DIRECTORS
                                   MAY 21, 1998


ITEM NO 1
Ancillary Service Fees
Board Decision:	
The staff recommendation is approved, except with respect to Ex-Im Bank financing for the costs of U.S. origin legal or engineering ancillary services.  With respect to these ancillary services, the Board approved the financing of 100 percent (not just Ex-Im’s share) of those services as part of the long-term financing when contracted by, or as requested by, Ex-Im Bank or the QUOTE sponsor ENDQUOTE of a transaction (the latter, even if not at 
	Ex-Im’s request).
                                     	
The financing, as part of the long-term transaction, of U.S. origin legal and engineering ancillary services for other transaction parties’ account, e.g., other lenders, was not resolved.  This issue will be reconsidered in the context of information of the Bank’s past practices, competitor ECA practices, and 
	Ex-Im’s other interests.


ITEM NO 2
Minutes of Meeting of May 5, 1998, to be approved
Board Decision: Approved


ITEM NO  3
Country KENYA                 AP073273XX
Request by PEFCO FOR EX-IM BANK APPROVAL OF FIXED INTEREST LENDING RATE
Applicant      ABN AMRO BANK N.V., CHICAGO IL
Borrower       SPV/KENYA AIRWAYS LTD, NAIROBI KENYA
Guarantor      NONE
Buyer          SPV/KENYA AIRWAYS LTD, NAIROBI KENYA
End-user       KENYA AIRWAYS LTD, NAIROBI, KENYA
Exporter       BOEING COMPANY THE*, SEATTLE WA
Supplier       BOEING COMPANY THE*, SEATTLE WA
Supplier       CFM INTERNATIONAL INC, CINCINNATI OH
Gteed Lender   PRIVATE EXPORT FUNDING CORP, NEW YORK NY
Lessor         SPV/KENYA AIRWAYS LTD, NAIROBI KENYA
Lessee         KENYA AIRWAYS LTD, NAIROBI, KENYA
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Board Decision APPROVED 

                        EXPORT-IMPORT BANK OF THE UNITED STATES
                  SUMMARY OF MINUTES OF MEETING OF BOARD OF DIRECTORS
                                   MAY 21, 1998

ITEM NO  4
Country CHINA (MAINLAND)     AP073380XX
equest for FINAL COMMITMENT

Applicant      CHASE SECURITIES INC., NEW YORK NY
Borrower       SPV/CHINA XIAMEN AIRLINES, XIAMEN FUJIAN CHINA(MAINLAND)
Guarantor      BANK OF CHINA, 10037 BEIJING CHINA(MAINLAND)
Buyer          SPV/CHINA XIAMEN AIRLINES, XIAMEN FUJIAN CHINA(MAINLAND)
End-user       CHINA XIAMEN AIRLINES, XIAMEN FUJIAN, CHINA(MAINLAND)
Exporter       BOEING COMPANY THE*, SEATTLE WA
Supplier       BOEING COMPANY THE*, SEATTLE WA
Supplier       CFM INTERNATIONAL INC, CINCINNATI OH
Gteed Lender   PRIVATE EXPORT FUNDING CORP, NEW YORK NY
Lessor         SPV/CHINA XIAMEN AIRLINES, XIAMEN FUJIAN CHINA(MAINLAND)
Lessee         CHINA XIAMEN AIRLINES, XIAMEN FUJIAN, CHINA(MAINLAND)
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Board Decision REFER TO U.S. CONGRESS


ITEM NO  5
Country MOROCCO               AP073086XX
Request for FINAL COMMITMENT

Applicant      ROYAL AIR MAROC, CASABLANCA, MOROCCO
Borrower       SPV/ROYAL AIR MAROC, CASABLANCA MOROCCO
Guarantor      NONE
Buyer          SPV/ROYAL AIR MAROC, CASABLANCA MOROCCO
End-user       ROYAL AIR MAROC, CASABLANCA, MOROCCO
Exporter       BOEING COMPANY THE*, RENTON WA
Supplier       BOEING COMPANY THE*, RENTON WA
Supplier       CFM INTERNATIONAL INC, CINCINNATI OH
Gteed Lender   BANQUE NATIONALE DE PARIS, 75450 PARIS, CEDEX 09, FRANCE 
Lessor         SPV/ROYAL AIR MAROC, CASABLANCA MOROCCO
Lessee         ROYAL AIR MAROC, CASABLANCA, MOROCCO
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Financed Amount USD66,888,200
Repayment Term  12 YEARS
Board Decision APPROVED


                  		EXPORT-IMPORT BANK OF THE UNITED STATES
                  SUMMARY OF MINUTES OF MEETING OF BOARD OF DIRECTORS
                                   MAY 21, 1998


ITEM NO  5A
Country MOROCCO                                PC073085XX
Request for PRELIMINARY COMMITMENT

Applicant      ROYAL AIR MAROC, CASABLANCA, MOROCCO
Borrower       SPV/ROYAL AIR MAROC, CASABLANCA MOROCCO
Guarantor      NONE
Buyer          SPV/ROYAL AIR MAROC, CASABLANCA MOROCCO
End-user       ROYAL AIR MAROC, CASABLANCA, MOROCCO
Exporter       BOEING COMPANY THE*, SEATTLE WA
Supplier       BOEING COMPANY THE*, SEATTLE WA
Supplier       CFM INTERNATIONAL INC, CINCINNATI OH
Gteed Lender   FINANCIAL INSTITUTION ACCEPTABLE TO EIB
Lessor         SPV/ROYAL AIR MAROC, CASABLANCA MOROCCO
Lessee         ROYAL AIR MAROC, CASABLANCA, MOROCCO
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Ex-Im Bank Liability (Millions) USD20+
PC Expiry Date 12/14/98
Board Decision APPROVED


ITEM NO 6 -- WITHDRAWN

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