Summary of the Meeting of the Board of Directors

May 30, 2012 May 30, 2012

Completed



  1. NON-CLASSIFIED ITEMS:

    • OPEN: None


    • CLOSED:

      • 1. Minutes of April 25, 2012 Board Meeting to be approved

      • 2. Minutes of April 26, 2012 Board Meeting to be approved

      • 3. Minutes of May 3, 2012 Board Meeting to be approved


      • WORKING CAPITAL DIVISION
      • Pending Congressional Review - Expiry Date: 05-29-12

      • 4.Working Capital Guarantee No. AP085217XA (Renewal)
        OBLIGOR: Ford Motor Company
        PRODUCTS: Automobiles
        (See Item No. 3 on the 04-18-12 Agenda - also see addendum)





      • TRANSPORTATION DIVISION
        Pending Congressional Review - Expiry Date: 05-29-12

      • 5. COUNTRY: KOREA - AP087000XX

        FOREIGN BUYER: SPV/Korean Air Lines

        END USER: Korean Air Lines Co. Ltd.

        PRODUCTS: Aircraft

        (See Item No. 1 on the 04-25-12 Agenda)


      • Pending Congressional Review - Expiry Date: 05-29-12

      • 6. COUNTRY: UNITED ARAB EMIRATES - AP087054XX

        FOREIGN BUYER: SPV/Emirates Airlines

        END USER: Emirates Airline

        PRODUCTS: Aircraft

        (See Item No. 2 on the 04-25-12 Agenda - also see addendum)


      • Pending Congressional Review - Expiry Date: 05-29-12

      • 7. COUNTRY: IRELAND - AP086983XX

        FOREIGN BUYER: SPV/CIT Aerospace International

        END USER: Various Users

        PRODUCTS: Aircraft

        (See Item No. 3 on the 04-25-12 Agenda - also see addendum)


      • Pending Congressional Review - Expiry Date: 05-29-12

      • 8A. COUNTRY: SINGAPORE - AP087008XX

        FOREIGN BUYER: SPV/BOC Aviation Pte., Ltd.

        END USERS: Thai Airways International Public Co. Ltd.

        PRODUCTS: Aircraft

        (See Item No. 4A on the 04-25-12 Agenda)


      • Pending Congressional Review - Expiry Date: 05-29-12

      • 8B. COUNTRY: SINGAPORE - AP087008XA

        FOREIGN BUYER: SPV/BOC Aviation Pte., Ltd.

        END USERS: Thai Airways International Public Co. Ltd.

        PRODUCTS: Aircraft

        (See Item No. 4B on the 04-25-12 Agenda)


      • Pending Congressional Review - Expiry Date: 05-29-12

      • 9A. COUNTRY: SOUTH AFRICA - AP085158XX (Conversion No. 1)

        FOREIGN BUYER: SPC/Comair, Ltd.

        END USER: Comair, Ltd

        PRODUCTS: Aircraft

        (See Item No. 5A on the 04-25-12 Agenda - also see addendum)


      • Pending Congressional Review - Expiry Date: 05-29-12
      • 9B. COUNTRY: SOUTH AFRICA - AP085158XX (Conversion No. 2)

        FOREIGN BUYER: SPC/Comair, Ltd.

        END USER: Comair, Ltd

        PRODUCTS: Aircraft

        (See Item No. 5B on the 04-25-12 Agenda - also see addendum)


      • Pending Congressional Review - Expiry Date: 05-29-12

      • 10A. COUNTRY: PHILIPPINES - AP87074XX

        FOREIGN BUYER: SPV/Philippine Airlines, Inc.

        END USER: Philippine Airlines, Inc.

        PRODUCTS: Aircraft

        (See Item No. 7A on the 04-25-12 Agenda - also see addendum)


      • Pending Congressional Review - Expiry Date: 05-29-12

      • 10B. COUNTRY: PHILIPPINES - PC87073XX

        FOREIGN BUYER: SPV/Philippine Airlines, Inc.

        END USER: Philippine Airlines, Inc.

        PRODUCTS: Aircraft

        (See Item No. 7B on the 04-25-12 Agenda - also see addendum)


      • STRUCTURED FINANCE DIVISION
        Pending Congressional Review - Expiry Date: 05-29-12

      • 11A. COUNTRY: MEXICO - AP086912XX

        FOREIGN BUYER: Pemex Exploracion y Produccion

        PRODUCTS: Gas & Oil Field Goods and Services

        (See Item No. 8A on the 04-25-12 Agenda)


      • Pending Congressional Review - Expiry Date: 05-29-12

      • 11B. COUNTRY: MEXICO - AP086926XX

        FOREIGN BUYER: Pemex Exploracion y Produccion

        PRODUCTS: Gas & Oil Field Goods and Services

        (See Item No. 8B on the 04-25-12 Agenda)


      • Pending Congressional Review - Expiry Date: 05-29-12

      • 11C. COUNTRY: MEXICO - AP086925XX

        FOREIGN BUYER: Pemex Exploracion y Produccion

        PRODUCTS: Gas & Oil Field Goods and Services

        (See Item No. 8C on the 04-25-12 Agenda)


      • Pending Congressional Review - Expiry Date: 05-29-12

      • 11D. COUNTRY: MEXICO - AP086924XX

        FOREIGN BUYER: Pemex Exploracion y Produccion

        PRODUCTS: Gas & Oil Field Goods and Services

        (See Item No. 8D on the 04-25-12 Agenda)









  2. CLASSIFIED ITEMS: NONE

Certification for Closure of Meeting

I, Lisa V. Terry, Assistant General Counsel for Administration (Acting) , hereby certify that in my opinion the Meeting of the Board of Directors scheduled for 9:30 AM on Wednesday, April 30, 2012, in the Board Room will disclose information of the kind set forth in Subsection (4) of Section 552b(c), Title 5 of the United States Code.



Accordingly, such meeting may be closed to the public.

Lisa V. Terry
Assistant General Counsel

Date Posted



Board Decision: APPROVED. Chairman Hochberg, Director Mulvaney,
Director Loui and Director Walther all voted in favor of the minutes.


ITEM NO 2 Minutes of April 26, 2012 Board Meeting to be approved.
Board Decision: APPROVED. Chairman Hochberg, Director Mulvaney,
Director Loui and Director Walther all voted in favor of the minutes.


ITEM NO 3 Minutes of May 3, 2012 Board Meeting to be approved.
Board Decision: APPROVED. Chairman Hochberg, Director Mulvaney,
Director Loui and Director Walther all voted in favor of the minutes.


ITEM NO 4
Working Capital Guarantee No. AP085217XA
Request for RENEWAL
Applicant PRIVATE EXPORT FUNDING CORP, NEW YORK, NY
Lender PRIVATE EXPORT FUNDING CORP, NEW YORK, NY
Obligor FORD MOTOR COMPANY, DEARBORN, MI
Guarantor FORD TRADING COMPANY LLC, DEARBORN MI

Product Description AUTOMOBILES
Eximbank Liability (Millions): $20+

Board Decision: APPROVED. Chairman Hochberg, Director Mulvaney, Director Loui
and Director Walther all voted in favor of the transaction.


ITEM NO 5
Country KOREA, SOUTH AP087000XX
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
Gteed Lndr TD BANK, N.A., MOUNT LAUREL NJ
Gteed Lndr BANK OF TOKYO MITSUBISHI UFJ, LTD, 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 KOREA, REP OF

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

Board Decision: APPROVED. Chairman Hochberg, Director Mulvaney, Director Loui and Director Walther all voted in favor of the transaction.


ITEM NO 6
Country UNITED ARAB EMIRATES AP087054XX
Request for FINAL COMMITMENT

Applicant EMIRATES AIRLINE, DUBAI U ARAB EMIRATES
Borrower SPV/EMIRATES AIRLINE, DUBAI U ARAB EMIRATES
Buyer SPV/EMIRATES AIRLINE, DUBAI U ARAB EMIRATES
End-user EMIRATES AIRLINE, DUBAI U ARAB EMIRATES
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
Gteed Lndr JPMORGAN CHASE & CO, NEW YORK NY
Lessor SPV/EMIRATES AIRLINE, DUBAI U ARAB EMIRATES
Lessee EMIRATES AIRLINE, DUBAI U ARAB EMIRATES
Cofin ECA NIPPON EXPORT AND INVESTMENT INSURANCE (NEXI), CHIYODA-KU TOKYO 101-0065 JAPAN

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

Board Decision: APPROVED. Chairman Hochberg, Director Loui and Director Walther
all voted in favor of the transaction. Director Mulvaney voted against.




ITEM NO 7
Country IRELAND AP086983XX
Request for FINAL COMMITMENT

Applicant CIT AEROSPACE INTERNATIONAL, DUBLIN IRELAND
Borrower SPV/CIT AEROSPACE INTERNATIONAL, DUBLIN IRELAND
Buyer SPV/CIT AEROSPACE INTERNATIONAL, DUBLIN IRELAND
End User CIT AEROSPACE INTERNATIONAL, DUBLIN IRELAND
End User NORWEGIAN AIR SHUTTLE ASA, FORNEBU, AKERSHUS 1330 NORWAY
End-user ADDITIONAL END-USERS
Exporter BOEING COMPANY, THE, RENTON WA
Supplier CFM INTERNATIONAL INC, CINCINNATI OH
Supplier VARIOUS - UNITED STATES SMALL SUPPLIERS, UNKNOWN DC
Supplier BOEING COMPANY, THE, RENTON WA
Gteed Lndr PRIVATE EXPORT FUNDING CORP, NEW YORK NY
Lessor SPV/CIT AEROSPACE INTERNATIONAL, DUBLIN IRELAND
Lessee CIT AEROSPACE INTERNATIONAL, DUBLIN IRELAND

Project Name NONE
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Repayment Term 11 YEARS/9 MONTHS

Board Decision: APPROVED. Chairman Hochberg, Director Mulvaney, Director Loui and Director Walther all voted in favor of the transaction.



ITEM NO 8A
Country SINGAPORE AP087008XX
Request for FINAL COMMITMENT

Applicant BOC AVIATION PTE. LTD., SINGAPORE 068811 SINGAPORE
Borrower SPV/BOC AVIATION PTE. LTD., SINGAPORE 068811 SINGAPORE
Buyer SPV/BOC AVIATION PTE. LTD., SINGAPORE 068811 SINGAPORE
End-user THAI AIRWAYS INTERNATIONAL PUBLIC CO LTD, CHATUCHAK, BANGKOK THAILAND
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
Gteed Lndr APPLE BANK FOR SAVINGS, NEW YORK NY
Lessor SPV/BOC AVIATION PTE. LTD., SINGAPORE 068811 SINGAPORE
Lessee BOC AVIATION PTE. LTD., SINGAPORE 068811 SINGAPORE
Cofin ECA NIPPON EXPORT AND INVESTMENT INSURANCE (NEXI), CHIYODA-KU TOKYO 101-0065 JAPAN

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

Board Decision: APPROVED. Chairman Hochberg, Director Mulvaney, Director Loui and Director Walther all voted in favor of the transaction.




ITEM NO 8B
Country SINGAPORE AP087008XA
Request for FINAL COMMITMENT

Applicant BOC AVIATION PTE. LTD., SINGAPORE 068811 SINGAPORE
Borrower SPV/BOC AVIATION PTE. LTD., SINGAPORE 068811 SINGAPORE
Buyer SPV/BOC AVIATION PTE. LTD., SINGAPORE 068811 SINGAPORE
End-user THAI AIRWAYS INTERNATIONAL PUBLIC CO LTD, CHATUCHAK, BANGKOK THAILAND
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
Gteed Lndr SOVEREIGN BANK, BOSTON MA
Lessor SPV/BOC AVIATION PTE. LTD., SINGAPORE 068811 SINGAPORE
Lessee BOC AVIATION PTE. LTD., SINGAPORE 068811 SINGAPORE
Cofin ECA NIPPON EXPORT AND INVESTMENT INSURANCE (NEXI), CHIYODA-KU TOKYO 101-0065 JAPAN

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

Board Decision: APPROVED. Chairman Hochberg, Director Mulvaney, Director Loui and Director Walther all voted in favor of the transaction.



ITEM NO 9A
Country SOUTH AFRICA AP085158XX
Request for FINAL COMMITMENT Conversion No 1

Applicant COMAIR LIMITED, BONAGRO PARK SOUTH AFRICA
Borrower SPC/COMAIR LIMITED, JOHANNESBURG, SOUTH AFRICA SOUTH AFRICA
Buyer SPC/COMAIR LIMITED, JOHANNESBURG, SOUTH AFRICA SOUTH AFRICA
End-user COMAIR LIMITED, BONAGRO PARK SOUTH AFRICA
Exporter BOEING COMPANY, THE, RENTON WA
Supplier CFM INTERNATIONAL INC, CINCINNATI OH
Supplier VARIOUS - UNITED STATES SMALL SUPPLIERS, UNKNOWN DC
Supplier BOEING COMPANY, THE, RENTON WA
Gteed Lndr RAND MERCHANT BANK LTD., SANDTON SOUTH AFRICA
Lessor SPC/COMAIR LIMITED, JOHANNESBURG, SOUTH AFRICA SOUTH AFRICA
Lessee COMAIR LIMITED, BONAGRO PARK SOUTH AFRICA

Project Name NONE
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Repayment Term 10 YEARS

Board Decision: APPROVED. Chairman Hochberg, Director Mulvaney, Director Loui and Director Walther all voted in favor of the transaction.




ITEM NO 9B
Country SOUTH AFRICA AP085158XX
Request for FINAL COMMITMENT Conversion No 2

Applicant COMAIR LIMITED, BONAGRO PARK SOUTH A