Summary of the Meeting of the Board of Directors

Date Scheduled

Completed

Agenda

SPECIAL MEETING OF THE BOARD OF DIRECTORS


11:30 A.M., TUESDAY


I.NON-CLASSIFIED ITEMS:


OPEN: NONE


CLOSED:


TRADE FINANCE DIVISION


1. COUNTRY: GHANA - PC086922XX - WITHDRAWN


FOREIGN BUYER: Republic of Ghana-Government


END USER:The Accra Metropolitan Assembly


PRODUCTS: Sanitary Sewer and Storm Water Drainage




TRANSPORATION DIVISION


Congressional Review - Expiry Date: 02-13-13 / Public Notice Expiry Date: 02-08-13


2A. COUNTRY: KOREA - AP087595XX


FOREIGN BUYER: SPV/Korean Air Lines


END USER: Korean Air Lines Co., Ltd.


PRODUCTS: Aircraft



Congressional Review - Expiry Date: 02-13-13 / Public Notice Expiry Date: 02-08-13


2B. COUNTRY: KOREA - AP087595XB


FOREIGN BUYER: SPV/Korean Air Lines


END USER: Korean Air Lines Co., Ltd.


PRODUCTS: Aircraft





TRANSPORATION DIVISION


Congressional Review - Expiry Date: 02-13-13 / Public Notice Expiry Date: 02-08-13


2C. COUNTRY: KOREA - AP087595XA


FOREIGN BUYER: SPV/Korean Air Lines


END USER: Korean Air Lines Co., Ltd.


PRODUCTS: Aircraft





II. CLASSIFIED ITEMS: NONE

Certification for Closure of Meeting

I, Lisa V. Terry, Assistant General Counsel for Administration, hereby certify that in my opinion the Special Meeting of the Board of Directors scheduled for 11:30 AM on Tuesday, February 19, 2013, in the Board Room will disclose information of the kind set forth in Subsection (4) of Section 552b(c), Title 5 of the United States Code.


Accordingly, such Special Meeting may be closed to the public.



Lisa V. Terry




Assistant General Counsel


Date Posted
Summary of Minutes

ITEM NO 1 WITHDRAWN



ITEM NO 2A
Country KOREA, SOUTH AP087595XX
Request for FINAL COMMITMENT


ApplicantKOREAN AIR LINES CO., LTD., SEOUL KOREA, REP OF
BorrowerSPV/KOREAN AIR LINES, SEOUL KOREA, REP OF
Buyer SPV/KOREAN AIR LINES, SEOUL KOREA, REP OF
End-userKOREAN AIR LINES CO., LTD., SEOUL KOREA, REP OF
Exporter BOEING COMPANY, THE, EVERETT WA
Supplier BOEING COMPANY, THE, EVERETT WA
Supplier GENERAL ELECTRIC COMPANY, CINCINNATI OH
Supplier VARIOUS - UNITED STATES SMALL SUPPLIERS, UNKNOWN DC
Gted Ldr CITIBANK N A, NEW YORK NY
Gted Ldr BANK OF AMERICA, NEW YORK NY
Lessor SPV/KOREAN AIR LINES, SEOUL KOREA, REP OF
Lessee KOREAN AIR LINES CO., LTD., SEOUL KOREA, REP OF
Cofin ECA EXPORT IMPORT BANK OF KOREA (KEXIM), SEOUL KOREA, REP OF


Project Name NONE
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Repayment Term 12 YEARS


Board Decision: APPROVED. Chairman Hochberg, Vice Chair Felton, Director Mulvaney, Director Loui and Director Walther all voted in favor of the transaction.



ITEM NO 2B
Country KOREA, SOUTH AP087595XB
Request for FINAL COMMITMENT


ApplicantKOREAN AIR LINES CO., LTD., SEOUL KOREA, REP OF
Borrower SPV/KOREAN AIR LINES, SEOUL KOREA, REP OF
Buyer SPV/KOREAN AIR LINES, SEOUL KOREA, REP OF
End-user KOREAN AIR LINES CO., LTD., SEOUL KOREA, REP OF
Exporter BOEING COMPANY, THE, EVERETT WA
Supplier BOEING COMPANY, THE, EVERETT WA
Supplier GENERAL ELECTRIC COMPANY, CINCINNATI OH
Supplier VARIOUS - UNITED STATES SMALL SUPPLIERS, UNKNOWN DC
Gted Ldr CREDIT AGRICOLE, NEW YORK NY
Gted Ldr GOLDMAN SACHS GROUP INC. (THE), NEW YORK NY
Lessor SPV/KOREAN AIR LINES, SEOUL KOREA, REP OF
Lessee KOREAN AIR LINES CO., LTD., SEOUL KOREA, REP OF
Cofin ECA EXPORT IMPORT BANK OF KOREA (KEXIM), SEOUL KOREA, REP OF


Project Name NONE
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Repayment Term 12 YEARS


Board Decision: APPROVED. Chairman Hochberg, Vice Chair Felton, Director Mulvaney, Director Loui and Director Walther all voted in favor of the transaction.



ITEM NO 2C
Country KOREA, SOUTH AP087595XA
Request for FINAL COMMITMENT


ApplicantKOREAN AIR LINES CO., LTD., SEOUL KOREA, REP OF
Borrower SPV/KOREAN AIR LINES, SEOUL KOREA, REP OF
Buyer SPV/KOREAN AIR LINES, SEOUL KOREA, REP OF
End-user KOREAN AIR LINES CO., LTD., SEOUL KOREA, REP OF
Exporter BOEING COMPANY, THE, EVERETT WA
Supplier BOEING COMPANY, THE, EVERETT WA
Supplier GENERAL ELECTRIC COMPANY, CINCINNATI OH
Supplier VARIOUS - UNITED STATES SMALL SUPPLIERS, UNKNOWN DC
Gted Ldr BNP-PARIBAS, NEW YORK NY
Lessor SPV/KOREAN AIR LINES, SEOUL KOREA, REP OF
Lessee KOREAN AIR LINES CO., LTD., SEOUL KOREA, REP OF
Cofin ECA EXPORT IMPORT BANK OF KOREA (KEXIM), SEOUL KOREA, REP OF


Project Name NONE
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Repayment Term 12 YEARS


Board Decision: APPROVED. Chairman Hochberg, Vice Chair Felton, Director Mulvaney, and Director Walther all voted in favor of the transaction, Director Loui recused herself.