Bank to work with qualified industry experts


Ex-Im Bank to leverage industry expertise to expedite export finiancing for business aircraft and helicopters

The Ex-Im Bank announced
that it was going to work with industry experts to perform due diligence and
credit analysis to help the Bank support for US business aircraft exports. This
move should be of assistance to US manufacturers of business aircraft.

The announcement was made by Ex-Im Bank chairman and president, Fred P.
Hochberg at EBACE in Geneva,

“Business aircraft and helicopters are a vital part of the US
aerospace industry that is one of the most competitive sectors of the economy
and employs thousands of Americans. Ex-Im Bank understands that
business-aircraft transactions require specialized knowledge and experience but
has limited resources to meet the growing demand for export financing in this
industry. By leveraging private-sector expertise to assist and support our
evaluation of these credits, we will be able to expand Ex-Im Bank’s support for
business-aircraft exports and the manufacturing jobs that they sustain,” chairman
Hochberg said.

Ex-Im Bank is implementing the new process to address the increased demand for
export credits for business aircraft and helicopters arising from the growing
percentage of US manufactured aircraft that are sold to foreign buyers. The
process is intended to result in a more complete and comprehensive transaction
package being submitted to Ex-Im Bank. The more complete package will expedite
the application, approval and closing process for foreign borrowers of
Ex-Im-supported financing in business-aircraft transactions. Using qualified
advisors is also expected to provide enhanced credit structures, resulting in
additional credit protections for Ex-Im Bank.

The process is designed to benefit manufacturers that do not have a captive
financing company but which can now designate one or more advisors to work with
their foreign buyers. The process will be available immediately through any advisor
that has demonstrated the requisite knowledge, experience and expertise with
business-aircraft financing.

Ex-Im Bank developed the process following upon the successful model of its
$500 million loan facility approved in 2009 that provided funds to assist
Textron Inc. in financing exports of two of its companies, Cessna Aircraft
Company and Bell Helicopter Textron. The facility enabled Textron’s Finance
segment to provide competitive terms and interest rates to finance the export
of more than 100 Cessna aircraft exports and six Bell helicopters.

Last week, Ex-Im Bank’s board of directors approved a second facility for
Textron’s Finance segment, providing a guarantee of a $350 million loan from
PNC Bank to a Textron subsidiary to finance the export of additional Cessna
aircraft and Bell

In FY 2011, Ex-Im Bank
authorized more than $12.6 billion in financing to support the export of
US manufactured aircraft of all types, including approximately $90 million
for 10 business aircraft and helicopters exports to four countries – Brazil, Mexico,
Panama and Switzerland.