Summary of the Meeting of the Board of Directors

April 16, 2015 December 31, 1969

Completed

I. OPEN: NONE

II. CLOSED:
1. Minutes of March 26, 2015 Board Meeting to be approved
2. Minutes of April 2, 2015 Board Meeting to be approved

TRANSPORTATION DIVISION
3A. COUNTRY: KOREA - AP088936XX
FOREIGN BUYER: SPV/Korean Air Lines
END USER: Korean Air Lines Co., Ltd.
PRODUCTS: Aircraft

3B. COUNTRY: KOREA - AP088936XA
FOREIGN BUYER: SPV/Korean Air Lines
END USER: Korean Air Lines Co., Ltd.
PRODUCTS: Aircraft

4. COUNTRY: CHINA - AP088968XX
FOREIGN BUYER: SPV/Hainan Airlines Co., Ltd
END USER: Hainan Airlines Co., Ltd
PRODUCTS: Aircraft

5. COUNTRY: CANADA - AP088940XX
FOREIGN BUYER: SPV/VIH Aviation Group
END USER: To Be Determined
PRODUCTS: Helicopters

TRADE FINANCE DIVISION
6. COUNTRY: MEXICO - Policy No. FB-610670 (Renewal of FB-578022)
BUYER: Manufacturas Kaltex, S.A. de C.V.
PRODUCTS: Bulk cotton
TOTAL PRINCIPAL LIABILITY: $28,500,000

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, April 16, 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

EXPORT-IMPORT BANK OF THE UNITED STATES
SUMMARY OF MINUTES OF MEETING OF BOARD OF DIRECTORS
APRIL 16, 2015

 

ITEM NO. 1  Minutes of March 16, 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. 2  Minutes of April 2, 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 3A

Country KOREA, SOUTH                           AP088936XX
Request for FINAL COMMITMENT
Applicant   KOREAN 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
Gtd Lndr   FINANCIAL INSTITUTION ACCEPTABLE TO EIB, N/A
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, SEOUL 150-996, KOREA, REP OF
Project Name KOREAN AIR LINES CO
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Repayment Term 12 YEARS

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

 

ITEM NO 3B

Country KOREA, SOUTH                           AP088936XA
Request for FINAL COMMITMENT
Applicant   KOREAN 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
Gtd Lndr   HSBC BANK USA, N.A., 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, SEOUL 150-996, KOREA, REP OF
Project Name KOREAN AIR LINES CO
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Repayment Term 12 YEARS

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

 

ITEM NO 4
Country CHINA                                  AP088968XX
Request for FINAL COMMITMENT

Applicant      HAINAN AIRLINES CO., LTD., Haikou 46
Borrower       SPV/HAINAN AIRLINES CO. LTD., Hainan 570206
Buyer          SPV/HAINAN AIRLINES CO. LTD., Hainan 570206
End-user       HAINAN AIRLINES CO., LTD., Haikou 46
Exporter       BOEING COMPANY, THE, Renton WA
Supplier       BOEING COMPANY, THE, Renton WA
Supplier       VARIOUS US SMALL BUSINESSES, Washington DC
Supplier       CFM INTERNATIONAL INC, Cincinnati OH
Gteed Lender   J.P. MORGAN CHASE BANK, N.A., New York NY
Lessor         SPV/HAINAN AIRLINES CO. LTD., Hainan 570206
Lessee         HAINAN AIRLINES CO., LTD., Haikou 46

Project Name HAINAN AIRLINES
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT

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

 

ITEM NO 5
Country CANADA                                 AP088940XX
Request for FINAL COMMITMENT

Applicant      TORONTO DOMINION (TEXAS) LLC, Houston TX
Borrower       SPV/VIH AVIATION GROUP, North Saanich BC
Buyer          SPV/VIH AVIATION GROUP, North Saanich BC
End-user       TO BE DETERMINED, N/A
Exporter       SIKORSKY AIRCRAFT, Stratford CT
Supplier       SIKORSKY AIRCRAFT, Stratford CT
Gteed Lender   TORONTO DOMINION (TEXAS) LLC, Houston TX
Lessor         SPV/VIH AVIATION GROUP, North Saanich BC
Lessee         VIH AVIATION GROUP LTD, North Saanich BC
Cntl Sponsor   Ken Norie, North Saanich CANADA

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

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

 

ITEM NO 6
Country   MEXICO        Policy No: Policy No. FB-610670 (Renewal of FB-578022)
Request for NEW POLICY

Insured:          Banco De Sabadell, S.A.
Buyer/Obligor:    Manufacturas Kaltex, S.A. de C.V.
End User:         Manufacturas Kaltex, S.A. de C.V.
Guarantor(s):     Grupo Kaltex, S.A. de C.V., Naucalpan de Juarez, Mexico
Kaltex Textiles, S.A. de C.V., Naucalpan de Juarez, Mexico
Exporter(s):      Allenberg Cotton Co, Cordova, TN
Cargill Cotton of Cordova, TN
Suppliers(s):     Allenberg Cotton Co, Cordova, TN
Cargill Cotton of Cordova, TN
Broker:           IRC Group, Columbus, OH
Products:         Bulk Cotton

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.