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Summary/Agenda of the Meeting of the Board of Directors

Thursday, February 19, 2015
 
Completed

I. OPEN: NONE

II. CLOSED:

1. Minutes of February 5, 2015 Board Meeting to be approved

TRANSPORTATION DIVISION
2A. COUNTRY: TURKEY - AP088675XX
FOREIGN BUYER: SPV/TURK HAVA YOLLARI
END USER: Turk Hava Yollari Anonim
PRODUCTS: Aircraft

2B. COUNTRY: TURKEY - AP088941XX
FOREIGN BUYER: SPV/TURK HAVA YOLLARI
END USER: Turk Hava Yollari Anonim
PRODUCTS: Aircraft

TRADE FINANCE DIVISION
3. COUNTRY: CHINA - ELC 120766 (Renewal)
OBLIGOR: China Merchants Bank Co., Ltd.
PRODUCTS: Bulk Agricultural Products
TOTAL PRINCIPAL LIABILITY: $245,000,000

TRANSPORTATION DIVISION
4A. COUNTRY: VIET NAM - AP088920XX
FOREIGN BUYER: SPV/VIETNAM AIRLINES CORP.
END USER: VIETNAM AIRLINES CORP.
PRODUCTS: Aircraft

4B. COUNTRY: VIET NAM - AP088920XA
FOREIGN BUYER: SPV/VIETNAM AIRLINES CORP.
END USER: VIETNAM AIRLINES CORP.
PRODUCTS: Aircraft

4C. COUNTRY: VIET NAM - AP088920XB
FOREIGN BUYER: SPV/VIETNAM AIRLINES CORP.
END USER: VIETNAM AIRLINES CORP.
PRODUCTS: Aircraft

4D. COUNTRY: VIET NAM - PC088921XX
FOREIGN BUYER: SPV/VIETNAM AIRLINES CORP.
END USER: VIETNAM AIRLINES CORP.
PRODUCTS: Aircraft

CERTIFICATION FOR CLOSURE OF MEETING

I, Andrea Q. Bernardo, Assistant General Counsel for Administration, hereby certify that in my opinion the Meeting of the Board of Directors will disclose information of the kind set forth in Subsection (4) of Section 552b(c), Title 5 of the United States Code. This meeting will be held at 9:30 AM on Thursday, February 19, 2015, at The Export-Import Bank of the United States, 811 Vermont Avenue, NW, Washington, DC.

Accordingly, such meeting may be closed to the public.  

Andrea Q. Bernardo
Assistant General Counsel

Date Posted: Friday, February 13, 2015

ITEM NO 1   Minutes of February 5, 2015 Board Meeting for consideration and approval.
Board Decision:     MINUTES APPROVED. Chairman Hochberg, Vice Chair Felton, Director Mulvaney and Director Loui all voted in favor of the minutes.

ITEM NO 2A
Country TURKEY                                AP088675XX
Request for FINAL COMMITMENT

Applicant    TURK HAVA YOLLARI ANONIM A S, Istanbul 34
Borrower   SPV/TURK HAVA YOLLARI, Istanbul
Buyer        SPV/TURK HAVA YOLLARI, Istanbul
End-user      TURK HAVA YOLLARI ANONIM A S, Istanbul 34
Exporter    GENERAL ELECTRIC TRANSPORTATION, Cincinnati OH
Exporter    BOEING COMPANY, THE, EVERETT WA
Exporter    BOEING COMPANY, THE, RENTON WA
Supplier   GENERAL ELECTRIC TRANSPORTATION, Cincinnati OH
Supplier     VARIOUS US SMALL BUSINESSES, Washington DC
Supplier     BOEING COMPANY, THE, EVERETT WA
Supplier   CMF INTERNATIONAL INC, Cincinnati OH
Supplier     BOEING COMPANY, THE, RENTON WA
Gtd Lndr     MIZUHO CORPORATE BANK, LTD., Tokyo
Lessor       SPV/TURK HAVA YOLLARI, Istanbul
Lessee       TURK HAVA YOLLARI ANONIM A S, Istanbul 34
Cofin ECA    NIPPON EXPORT AND INVESTMENT INSURANCE (NEXI), CHIYODA-KU JAPAN

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

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


ITEM NO 2B
Country TURKEY                                AP088941XX
Request for FINAL COMMITMENT

Applicant     TURK HAVA YOLLARI ANONIM A S, Istanbul 34
Borrower    SPV/TURK HAVA YOLLARI, Istanbul
Buyer        SPV/TURK HAVA YOLLARI, Istanbul
End-user      TURK HAVA YOLLARI ANONIM A S, Istanbul 34
Exporter    BOEING COMPANY, THE, Everett WA
Supplier     BOEING COMPANY, THE, Everett WA
Supplier     GENERAL ELECTRIC AVIATION, Cincinnati OH
Supplier     VARIOUS US SMALL BUSINESSES, Washington DC
Gtd Lndr     FINANCIAL INSTITUTION ACCEPTABLE TO EIB, N/A
Lessor       SPV/TURK HAVA YOLLARI, Istanbul
Lessee       TURK HAVA YOLLARI ANONIM A S, Istanbul 34
Cofin ECA    NIPPON EXPORT AND INVESTMENT INSURANCE (NEXI), CHIYODA-KU JAPAN

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

Board Decision: TRANSACTION REFERRED TO CONGRESS. Chairman Hochberg, Vice Chair Felton, Director Mulvaney and Director Loui all voted in favor of the referral


ITEM NO 3
Country CHINA               Policy No. ELC 120766 (Renewal)
Request For Renewal
Policy Type Bank Letter of Credit      Coverage Type/Term Comprehensive/ST
           
Insured   CoBank, Acb, Greenwood Village, CO
Obligor    China Merchants Bank Co., Ltd., Shenzhen, China
End User   Various
Guarantor   None
Exporters   Various (including Archer Daniels Midland, Bunge, Cargil, Gavilon Grain, Etc)
Brokers   Export Insurance Agency, Walpole, MA
Product   Bulk Agricultural Products (grain, sorghum, soy beans, etc)
Ex-Im Bank Liability (Millions) $20+

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


ITEM NO 4A
Country VIET NAM                              AP088920XX
Request for FINAL COMMITMENT

Applicant   VIETNAM AIRLINES CORPORATION, Hanoi
Borrower   SPV/VIETNAM AIRLINES CORP., Hanoi
Buyer          SPV/VIETNAM AIRLINES CORP., Hanoi
End-user   VIETNAM AIRLINES CORPORATION, Hanoi
Exporter      BOEING COMPANY, THE, Everett WA
Supplier    BOEING COMPANY, THE, Everett WA
Supplier    GENERAL ELECTRIC AVIATION, Cincinnati OH
Supplier    VARIOUS US SMALL BUSINESSES, Washington DC
Gtd Lndr     SVENSKA EXPORTKREDIT AB, Stockholm
Lessor       SPV/VIETNAM AIRLINES CORP., Hanoi
Lessee       VIETNAM AIRLINES CORPORATION, Hanoi
Cofin ECA NIPPON EXPORT AND INVESTMENT INSURANCE (NEXI), CHIYODA-KU JAPAN

Project Name VIETNAM AIRLINES
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT

Board Decision: TRANSACTION REFERRED TO CONGRESS.  Chairman Hochberg, Vice Chair Felton and Director Loui voted in favor of the transaction. Director Mulvaney voted against.


ITEM NO 4B
Country VIET NAM                              AP088920XA
Request for FINAL COMMITMENT

Applicant   VIETNAM AIRLINES CORPORATION, Hanoi
Borrower    SPV/VIETNAM AIRLINES CORP., Hanoi
Buyer        SPV/VIETNAM AIRLINES CORP., Hanoi
End-user   VIETNAM AIRLINES CORPORATION, Hanoi
Exporter    BOEING COMPANY, THE, Everett WA
Supplier     BOEING COMPANY, THE, Everett WA
Supplier     GENERAL ELECTRIC AVIATION, Cincinnati OH
Supplier     VARIOUS US SMALL BUSINESSES, Washington DC
Gtd Lndr     TORONTO-DOMINION BANK, THE, Mount Laurel NJ
Lessor       SPV/VIETNAM AIRLINES CORP., Hanoi
Lessee       VIETNAM AIRLINES CORPORATION, Hanoi
Cofin ECA NIPPON EXPORT AND INVESTMENT INSURANCE (NEXI), CHIYODA-KU JAPAN

Project Name VIETNAM AIRLINES
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT

Board Decision: TRANSACTION REFERRED TO CONGRESS.  Chairman Hochberg, Vice Chair Felton and Director Loui voted in favor of the transaction. Director Mulvaney voted against.


ITEM NO 4C
Country VIET NAM                              AP088920XB
Request for FINAL COMMITMENT

Applicant   VIETNAM AIRLINES CORPORATION, Hanoi
Borrower     SPV/VIETNAM AIRLINES CORP., Hanoi
Buyer        SPV/VIETNAM AIRLINES CORP., Hanoi
End-user      VIETNAM AIRLINES CORPORATION, Hanoi
Exporter    GENERAL ELECTRIC AVIATION, Cincinnati OH
Supplier     GENERAL ELECTRIC AVIATION, Cincinnati OH
Supplier     VARIOUS US SMALL BUSINESSES, Washington DC
Gtd Lndr     FINANCIAL INSTITUTION ACCEPTABLE TO EIB, N/A
Lessor       SPV/VIETNAM AIRLINES CORP., Hanoi
Lessee       VIETNAM AIRLINES CORPORATION, Hanoi

Project Name VIETNAM AIRLINES
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT

Board Decision: TRANSACTION REFERRED TO CONGRESS.  Chairman Hochberg, Vice Chair Felton and Director Loui voted in favor of the transaction. Director Mulvaney voted against.


ITEM NO 4D
Country VIET NAM                              PC088921XX
Request for PRELIMINARY COMMITMENT

Applicant   VIETNAM AIRLINES CORPORATION, Hanoi
Borrower     SPV/VIETNAM AIRLINES CORP., Hanoi
Buyer        SPV/VIETNAM AIRLINES CORP., Hanoi
End-user      VIETNAM AIRLINES CORPORATION, Hanoi
Exporter    BOEING COMPANY, THE, Everett WA
Exporter    GENERAL ELECTRIC AVIATION, Cincinnati OH
Supplier     BOEING COMPANY, THE, Everett WA
Supplier     GENERAL ELECTRIC AVIATION, Cincinnati OH
Supplier   VARIOUS US SMALL BUSINESSES, Washington DC
Gtd Lndr   FINANCIAL INSTITUTION ACCEPTABLE TO EIB, N/A
Lessor       SPV/VIETNAM AIRLINES CORP., Hanoi
Lessee       VIETNAM AIRLINES CORPORATION, Hanoi
Cofin ECA NIPPON EXPORT AND INVESTMENT INSURANCE (NEXI), CHIYODA-KU JAPAN

Project Name VIETNAM AIRLINES
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT

Board Decision: TRANSACTION REFERRED TO CONGRESS.  Chairman Hochberg, Vice Chair Felton and Director Loui voted in favor of the transaction. Director Mulvaney voted against.