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Summary/Agenda of the Meeting of the Board of Directors

Thursday, June 11, 2015
 
Completed

I.          OPEN: NONE

II.         CLOSED:

1.         Minutes of May 28, 2015 Board Meeting minutes to be approved

2.         Minutes of June 2, 2015 Board Meeting minutes to be approved

TRANSPORTATION DIVISION

3A.  COUNTRY: CHINA – AP088976XX

FOREIGN BUYER: SPV/China Southern Airlines

END USER: China Southern Airlines Company, Ltd

PRODUCTS: Aircraft

3B.   COUNTRY: CHINA – AP088976XA

FOREIGN BUYER: SPV/China Southern Airlines

END USER: China Southern Airlines Company, Ltd

PRODUCTS: Aircraft

TRADE FINANCE DIVISION

4.  COUNTRY: EGYPT – PC089011XX

FOREIGN BUYER:  Egyptian Electricity Holding Company

PRODUCTS:  Thermal Power Generator Equipment

TOTAL FINANCED AMOUNT: $7,506,415,131

WORKING CAPITAL DIVISION

5.  Working Capital Guarantee No. AP085901XC (Renewal)

OBLIGORS:  Zeeco, Inc.

OBLIGORS:  Zeeco USA, LLC

PRODUCTS:  Industrial Combustion Machines

EXIMBANK LIABILITY:  $72,000,000

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, June 11, 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: Thursday, June 4, 2015

Morning Session (Item No. 4 Egypt was deferred until later in the day)
ITEM NO 1  Minutes of May 28, 2015 Board Meeting to be approved
Board Decision: MINUTES APPROVED.  Chairman Hochberg, Director Mulvaney and Director Loui all voted in favor of the minutes.  Vice Chair Felton was not present for this item.

ITEM NO 2  Minutes of June 2, 2015 Board Meeting to be approved
Board Decision: MINUTES APPROVED.  Chairman Hochberg, Director Mulvaney and Director Loui all voted in favor of the minutes.  Vice Chair Felton was not present for this item.

ITEM NO 3A
Country CHINA                                  AP088976XX
Request for FINAL COMMITMENT

Applicant    CHINA SOUTHERN AIRLINES COMPANY LTD, Guangzhou CHINA (MAINLAND)
Borrower       SPV/CHINA SOUTHERN AIRLINES, Guangzhou CHINA (MAINLAND)
Buyer       SPV/CHINA SOUTHERN AIRLINES, Guangzhou CHINA (MAINLAND)
End-user     CHINA SOUTHERN AIRLINES COMPANY LTD, Guangzhou CHINA (MAINLAND)
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 CHINA (MAINLAND)
Lessee     CHINA SOUTHERN AIRLINES COMPANY LTD, Guangzhou CHINA (MAINLAND)
Cofin ECA   NIPPON EXPORT AND INVESTMENT INSURANCE (NEXI), CHIYODA-KU JAPAN

Project Name CHINA SOUTHERN AIRLINES
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 3B
Country CHINA                                  AP088976XA
Request for FINAL COMMITMENT

Applicant    CHINA SOUTHERN AIRLINES COMPANY LTD, Guangzhou CHINA (MAINLAND)
Borrower       SPV/CHINA SOUTHERN AIRLINES, Guangzhou CHINA (MAINLAND)
Buyer       SPV/CHINA SOUTHERN AIRLINES, Guangzhou CHINA (MAINLAND)
End-user     CHINA SOUTHERN AIRLINES COMPANY LTD, Guangzhou CHINA (MAINLAND)
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 CHINA (MAINLAND)
Lessee     CHINA SOUTHERN AIRLINES COMPANY LTD, Guangzhou CHINA (MAINLAND)
Cofin ECA   NIPPON EXPORT AND INVESTMENT INSURANCE (NEXI), CHIYODA-KU JAPAN

Project Name CHINA SOUTHERN AIRLINES
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 4
Country EGYPT                                  PC089011XX
Request for PRELIMINARY COMMITMENT

Applicant     GENERAL ELECTRIC INTERNATIONAL OPERATION, Shelton CT
Borrower      MINISTRY OF FINANCE OF THE ARAB REPUBLIC, Cairo GS
Guarantor      NONE
Buyer          EGYPTIAN ELECTRICITY HOLDING COMPANY, Cairo, Egypt
End-user       EGYPTIAN ELECTRICITY HOLDING COMPANY, Cairo, Egypt
Exporter       GENERAL ELECTRIC INTERNATIONAL OPERATION, Shelton CT
Supplier       GENERAL ELECTRIC INTERNATIONAL OPERATION, Shelton CT
Gtd Lndr       FINANCIAL INSTITUTION ACCEPTABLE TO EIB, N/A
PSOR    MINISTRY OF FINANCE OF THE ARAB REPUBLIC, Cairo GS

Project Name NONE
Project Description GAS FIRED COMBINED CYCLE POWER PLANTS
Product Description THERMAL POWER GENERATOR EQUIPMENT
Ex-Im Bank Liability (Millions) $20+
PC Expiry Date 12/14/15

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

ITEM NO 5
Working Capital Guarantee No. AP085901XC
Request for RENEWAL

Applicant     J.P. MORGAN CHASE BANK, N.A., Dallas TX
Gtd Lndr       J.P. MORGAN CHASE BANK, N.A., Dallas TX
Borrower      ZEECO, INC., Broken Arrow OK
Borrower     ZEECO USA LLC, Broken Arrow OK
Guarantor    ZEECO EUROPE LIMITED, Rutland UT
Guarantor      ZEECO DOMESTIC HOLDINGS, LLC, Broken Arrow OK

Product Description INDUSTRIAL COMBUSTION PRODUCTS
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.

 
Evening Session
ITEM NO 1
Country EGYPT                                  PC089011XX
Request for PRELIMINARY COMMITMENT

Applicant     GENERAL ELECTRIC INTERNATIONAL OPERATION, Shelton CT
Borrower      MINISTRY OF FINANCE OF THE ARAB REPUBLIC, Cairo GS
Guarantor      NONE
Buyer          EGYPTIAN ELECTRICITY HOLDING COMPANY, Cairo, Egypt
End-user       EGYPTIAN ELECTRICITY HOLDING COMPANY, Cairo, Egypt
Exporter       GENERAL ELECTRIC INTERNATIONAL OPERATION, Shelton CT
Supplier       GENERAL ELECTRIC INTERNATIONAL OPERATION, Shelton CT
Gtd Lndr       FINANCIAL INSTITUTION ACCEPTABLE TO EIB, N/A
PSOR        MINISTRY OF FINANCE OF THE ARAB REPUBLIC, Cairo GS

Project Name NONE
Project Description GAS FIRED COMBINED CYCLE POWER PLANTS
Product Description THERMAL POWER GENERATOR EQUIPMENT
Ex-Im Bank Liability (Millions) $20+
PC Expiry Date 12/14/15

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