Summary of the Meeting of the Board of Directors
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
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
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.