FOR IMMEDIATE RELEASE February 20, 2003
Marianna Ohe (202) 565-3200
TURKEY: approved a request by Allfirst Bank, Baltimore, MD, for a $2.5 million medium term insurance policy to support the $2.7 million sale by Mark Andy, Inc., Chesterfield, MO, of two form printing machines to Atilim Kagit Urunleri Ve Basim Sanayi Ticaret A.S., Istanbul, Turkey. Atilim, the primary source of repayment, provides mass mailing documentation and printing services to a variety of private sector and government entities in Turkey.
MEXICO: approved a request from PNC Bank, Pittsburgh, PA, of a $1.3 million medium-term repetitive sales/multiple shipments insurance policy to support $1.5 million in exports by various U.S. companies of various capital goods to Facileasing, S.A. de C.V. of Mexico. The exporters and suppliers have yet to be determined due to the nature of the borrower's operating structure. The broker on the transaction is EIA. The primary source of repayment is Facileasing.
BRAZIL: approved a final commitment for a $2.2 million medium-term guarantee to support the export by Anderson International Corp., Cleveland, OH, and Consolidated Baling Machine Co., Jacksonville, FL, of rubber and petrochemical manufacturing equipment to Brazil. The buyer, Petroflex Industria E Comercio S.A. in Rio de Janeiro, will use the equipment for plant expansion and technology upgrade. The guaranteed lender is Banco Itau SA New York Branch, New York, NY. Petroflex is the primary source of repayment.
NIGERIA: approved a final commitment for a $5 million medium-term direct loan to support the $5.4 million export by Raytheon Aircraft Company, Wichita, KS, of two used Beech 1900D aircraft to Overland Airways Limited (OLA) in Lagos, Nigeria. OLA will use the aircraft to operate international leisure charters, charters for oil companies and other corporate entities, and to begin scheduled operations between Lagos and Abuja and some of Nigeria's smaller state capitals. Capital Bank International Limited, Lagos, a guarantor under this transaction, is the primary source of repayment.