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Summary/Agenda of the Meeting of the Board of Directors

Thursday, May 7, 2015
 
Completed

I. OPEN: NONE

II. CLOSED:
1. Minutes of April 16, Board Meeting minutes to be approved

CREDIT POLICY COMMITTEE
2. Country Review (CLS Cover Policy and Footnotes)

TRADE FINANCE DIVISION
3. COUNTRY: MEXICO Policy No. FB-617402
BUYER/OBLIGOR: Comercializadora Portimex, S.A. de C.V.
PRODUCTS: Bulk Agricultural Commodities
TOTAL PRINCIPAL LIABILITY: $14,700,000

TRANSPORTATION DIVISION
4. COUNTRY: EGYPT - PC088998XX
FOREIGN BUYER: Egyptian National Railways
FOREIGN BUYER: Ministry of Transportation & Maritime
PRODUCTS: Locomotives

5A. COUNTRY: CHINA - AP088976XX
FOREIGN BUYER: SPV/China Southern Airlines
END USER: China Southern Airlines Company, Ltd
PRODUCTS: Aircraft

5B. COUNTRY: CHINA - AP088976XA
FOREIGN BUYER: SPV/China Southern Airlines
END USER: China Southern Airlines Company, Ltd
PRODUCTS: Aircraft

6A. COUNTRY: TURKEY - AP088967XX
FOREIGN BUYER: SPV/Sun Express
END USER: Sun Express
PRODUCTS: Aircraft

6B. COUNTRY: TURKEY - AP088967XA
FOREIGN BUYER: SPV/Sun Express
END USER: Sun Express
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, May 7, 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, May 1, 2015

EXPORT-IMPORT BANK OF THE UNITED STATES
SUMMARY OF MINUTES OF MEETING OF BOARD OF DIRECTORS
MAY 7, 2015


ITEM NO. 1    Minutes of April 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    Country Review (CLS Cover Policy and Note Changes)
Board Decision:  RECOMMENDATION APPROVED. Chairman Hochberg, Vice Chair Felton, Director Mulvaney and Director Loui all voted in favor of approving the recommendation.


Item No.  3    WITHDRAWN


ITEM NO 4
Country EGYPT                                  PC088998XX
Request for PRELIMINARY COMMITMENT

Applicant    ELECTRO-MOTIVE DIV GENERAL, Lagrange IL
Borrower       EGYPTIAN NATIONAL RAILWAYS, EGYPT
Borrower    MINISTRY OF FINANCE OF EGYPT, EGYPT
Borrower    MINST OF TRANSPORTATION & MARITIME, EGYPT
Guarantor   MINISTRY OF FINANCE OF EGYPT, Cairo GS
Buyer       EGYPTIAN NATIONAL RAILWAYS, EGYPT
Buyer       MINST OF TRANSPORTATION & MARITIME, EGYPT
End-user    EGYPTIAN NATIONAL RAILWAYS, Cairo
Exporter    ELECTRO-MOTIVE DIV GENERAL, Lagrange IL
Supplier    ELECTRO-MOTIVE DIV GENERAL, Lagrange IL
Gtd Lndr       FINANCIAL INSTITUTION ACCEPTABLE TO EIB, N/A

Project Name NONE
Project Description RAILWAY TRANSPORTATION
Product Description LOCOMOTIVES

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

 
ITEM NO 5A
Country CHINA                                  AP088976XX
Request for FINAL COMMITMENT

Applicant   CHINA SOUTHERN AIRLINES COMPANY LTD, Guangzhou 44
Borrower    SPV/CHINA SOUTHERN AIRLINES, Guangzhou 44
Buyer       SPV/CHINA SOUTHERN AIRLINES, Guangzhou 44
End-user    CHINA SOUTHERN AIRLINES COMPANY LTD, Guangzhou 44
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       CITIBANK, N.A., New York NY
Lessor      SPV/CHINA SOUTHERN AIRLINES, Guangzhou 44
Lessee      CHINA SOUTHERN AIRLINES COMPANY LTD, Guangzhou 44

Project Name CHINA SOUTHERN AIRLINES
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT

Board Decision:  TRANSACTION REFERRED TO CONGRESS. Vice Chair Felton,
Director Mulvaney and Director Loui voted in favor of the referral.
(Chairman Hochberg was not present for this item.)


ITEM NO 5B
Country CHINA                                  AP088976XA
Request for FINAL COMMITMENT

Applicant    CHINA SOUTHERN AIRLINES COMPANY LTD, Guangzhou 44
Borrower     SPV/CHINA SOUTHERN AIRLINES, Guangzhou 44
Buyer      SPV/CHINA SOUTHERN AIRLINES, Guangzhou 44
End-user      CHINA SOUTHERN AIRLINES COMPANY LTD, Guangzhou 44
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       BNP PARIBAS, New York NY
Lessor       SPV/CHINA SOUTHERN AIRLINES, Guangzhou 44
Lessee       CHINA SOUTHERN AIRLINES COMPANY LTD, Guangzhou 44

Project Name CHINA SOUTHERN AIRLINES
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT

Board Decision:  TRANSACTION REFERRED TO CONGRESS. Vice Chair Felton,
Director Mulvaney and Director Loui voted in favor of the referral.
(Chairman Hochberg was not present for this item.)



 
ITEM NO 6A
Country TURKEY                                 AP088967XX
Request for FINAL COMMITMENT

Applicant     SUN EXPRESS, Antalya
Borrower    SPV/ SUN EXPRESS, Antalya 07
Buyer        SPV/ SUN EXPRESS, Antalya 07
End-user      SUN EXPRESS, Antalya
Exporter       BOEING COMPANY, THE, Renton WA
Supplier      BOEING COMPANY, THE, Renton WA
Supplier       CFM INTERNATIONAL INC, Cincinnati OH
Supplier     VARIOUS US SMALL BUSINESSES, Washington DC
Gtd Lndr       AEGON N.V., The Hague GS
Lessor         SPV/ SUN EXPRESS, Antalya 07
Lessee         SUN EXPRESS, Antalya

Project Name SUNEXPRESS
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT

Board Decision:  TRANSACTION REFERRED TO CONGRESS. Vice Chair Felton and Director Loui voted in favor of the referral.  Director Mulvaney voted against.
(Chairman Hochberg was not present for this item.)


ITEM NO 6B
Country TURKEY                                 AP088967XA
Request for FINAL COMMITMENT

Applicant      SUN EXPRESS, Antalya
Borrower    SPV/ SUN EXPRESS, Antalya 07
Buyer       SPV/ SUN EXPRESS, Antalya 07
End-user     SUN EXPRESS, Antalya
Exporter     BOEING COMPANY, THE, Renton WA
Supplier     BOEING COMPANY, THE, Renton WA
Supplier     CFM INTERNATIONAL INC, Cincinnati OH
Supplier       VARIOUS US SMALL BUSINESSES, Washington DC
Gtd Lndr      BNP PARIBAS, New York NY
Gtd Lndr      ING CAPITAL LLC, New York NY
Lessor         SPV/ SUN EXPRESS, Antalya 07
Lessee     SUN EXPRESS, Antalya

Project Name SUNEXPRESS
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT

Board Decision:  TRANSACTION REFERRED TO CONGRESS. Vice Chair Felton and Director Loui voted in favor of the referral.  Director Mulvaney voted against.
(Chairman Hochberg was not present for this item.)