EXPORT-IMPORT BANK NAMED WORLD'S "BEST EXPORT CREDIT AGENCY"

FROM:  U.S. EXPORT-IMPORT BANK
Ex-Im Bank Recognized as World’s “Best Export Credit Agency” by Trade and Forfaiting Review Magazine

London, United Kingdom – The Export-Import Bank of the United States (Ex-Im Bank) has received the world's "Best Export Credit Agency" award by Trade and Forfaiting Review (TFR) as part of their 2013 Excellence Awards, the publication has announced.

Ex-Im Bank Chairman and President Fred P. Hochberg said, "We are very honored to receive this award. Being named the world's 'Best Export Credit Agency (ECA)' recognizes the hard work and innovation that the Ex-Im Bank staff has put in to create and support American jobs and increase the global competitiveness of U.S. exporters." Hochberg added: "This is the second award we've received in the past several weeks naming us the "best ECA" in the world, a clear acknowledgement of the success of Ex-Im's focus on meeting the export financing needs of U.S. exporters, foreign buyers, and lenders."

Clarissa Dann, editor of Trade and Forfaiting Review, a global magazine dedicated to trade and commodity finance information provision, said: "TFR's awards have been one of the high spots of the trade finance calendar and the sheer scale of the U.S. Ex-Im Bank's support for exports to over 150 countries, along with the innovation displayed in the actual deals ­– plus its ability to work with its private sector partners has clearly inspired a new tranche of voters." On behalf of all here at TFR, well done and keep up the good work!"

The TFR 2013 Excellence Awards will appear in the July/August edition of Trade and Forfaiting Review with the full winner profiles forming a special focus.

Additionally, in late June Trade Finance Magazine gave Ex-Im Bank a number of awards including "Best Global Export Credit Agency" (ECA) for the second time and the "Best ECA in the Americas" for the fourth consecutive time.

EXPORT-IMPORT BANK TO FINANCE $108 MILLION GE SALE OF LOCOMOTIVES TO SOUTH AFRICA

FROM: EXPORT-IMPORT BANK

Ex-Im Bank to Provide $108 Million in Financing for Sale of American Locomotives to South Africa
Transaction Brings Ex-Im’s Transnet Financing Total to $230 Million, Will Help Support both American and South African jobs


Washington, D.C. — The Export-Import Bank of the United States (Ex-Im Bank) today announced that Transnet SOC Limited (Transnet), a company based in Johannesburg, South Africa, will receive approximately 1.1 billion South African Rand ($108 million) in financing to support the purchase of 53 American-made GE locomotives.

Ex-Im’s financing to Transnet will now total $230 million. In February 2011, the Bank approved a Rand 1.1 billion for the sale of 47 GE locomotive kits. Together, the transactions will provide a Rand of 2.2 billion ($230 million) in financing and support the purchase of 100 GE locomotives.

"As the President highlighted on his recent trip, there are enormous opportunities for U.S. exporters in South Africa and across the broader region," said Ex-Im Chairman and President Fred P. Hochberg. "Ex-Im Bank will continue to help American companies expand their reach into this dynamic market."


"I greatly appreciate Exim’s financing arrangements for this sale, which supports jobs in the United States and South Africa," said Lorenzo Simonelli, president & CEO of GE Transportation. "Exim financing is essential to maintaining the competitiveness of quality American products in the face of government-supported foreign competition. I am excited at the prospect of Exim helping to finance another American sale in Transnet’s next locomotive purchase, scheduled for later this year."


Ex-Im Bank developed a customized, tailor-made financing solution that was designed specifically to meet the financing needs of Transnet. Barclays Bank PLC of London is the guaranteed loan agent and arranger while Nedbank in Johannesburg will be the funding bank. The loan is guaranteed by Ex-Im Bank and will be denominated in South African Rand.

Transnet is a large South African freight rail, port and pipeline infrastructure company, headquartered in Johannesburg. The company's stock is owned by the Department of Public Enterprises of the South African government. Ex-Im’s financing will support Transnet’s purchase of GE C30ACI locomotive kits. The kits, which are manufactured in Erie, Pa., are shipped to Transnet facilities in Pretoria, South Africa and assembled by local workers.

South Africa is one of nine key markets Ex-Im Bank has identified as having strong opportunities for U.S. exporters. In FY’12, Ex-Im Bank authorized approximately $130 million in financing to South Africa and the Bank’s current exposure is more than $1 billion.

276,000 JOBS SUPPORTED BY EXPORT-IMPORT BANK

FROM: U.S. EXPORT-IMPORT BANK

Labor Day 2012 Sees More Than 276,000 Jobs Supported by
Export Financing Provided by Ex-Im Bank

WASHINGTON, DC --- As Americans celebrate the unofficial end of summer this Labor Day, more than 276,000 American workers and their families are benefiting from jobs that are being supported by export financing from the Export-Import Bank of the United States (Ex-Im Bank).

"Export-intensive industries pay higher wages than domestic-oriented industries in large metropolitan areas," said Fred P. Hochberg, chairman and president of Ex-Im. "So this Labor Day Ex-Im Bank is again on track for another record year providing financing for buyers of U.S. goods and services, and in doing so is fulfilling its mission of helping create and sustain American jobs."

As August began Ex-Im Bank had authorized 3,055 separate transactions totaling $25.8 billion, which in turn supported about $39 billion in export sales.

Businesses employing dozens to thousands of Americans are supported by Ex-Im Bank financing. Among the companies benefitting from export financing from Ex-Im are:
· FirmGreen Inc., a small renewable-energy company based in Newport Beach, Calif., and other U.S. green technology suppliers who were able to export equipment and services for an innovative biogas project at the Novo Gramacho land fill near Rio de Janeiro, Brazil. Ex-Im provided the buyers a $46.8 million loan for the project which directly generated 165 new jobs at facilities in seven states: Indiana, Wisconsin, Ohio, California, Michigan, Missouri and Texas.
· Trench-Tech International, Inc. a small business in Roanoke, Texas is exporting its TT2550 chain trencher to a buyer in Mexico with the support of a $970,000 Ex-Im guaranteed medium-term loan from Citi Commercial Bank.
· Tetra Tech, a small business in Pasadena, Calif. is supplying design and construction services for a desperately-needed water supply system in Sri Lanka because of a $64.9 million Ex-Im Bank direct loan to the Sri Lankan government. The transaction will support approximately 400 American jobs in Denver and Longmont, Colo.; Morris Plains, N.J.; Langhorne, Pa.; and Fairfax, Va.
· The Boeing Co. employed thousands of workers in Washington State and elsewhere to complete and deliver to Ethiopian Airlines the first Boeing 787 Dreamliner delivered to any airline outside of Japan, which is also the first 787 to be financed by Ex-Im Bank.

DEFRAUDING EXPORT-IMPORT BANK LANDS TEXAS RESIDENT IN PRISON FOR 15 MONTHS

FROM:  U.S. DEPARTMENT OF JUSTICE
Tuesday, June 5, 2012
Texas Resident Sentenced to 15 Months in Prison for Scheme to Defraud the U.S. Export-import Bank
WASHINGTON – A Fabens, Texas, resident was sentenced today to 15 months in prison for his role in a scheme to defraud the Export-Import Bank of the United States (Ex-Im Bank) of more than $690,624.

The sentence was announced by Assistant Attorney General Lanny A. Breuer of the Justice Department’s Criminal Division; U.S. Attorney Robert Pitman of the Western District of Texas; Osvaldo L. Gratacos, Inspector General of the Ex-Im Bank; and Acting Special Agent in Charge Dennis A. Ulrich of U.S. Immigration and Customs Enforcement’s Homeland Security Investigations (ICE-HSI) in El Paso, Texas.
Hector Cuevas, 42, was also sentenced by Judge Kathleen Cardone in U.S. District Court in El Paso to three years of supervised release and was ordered to pay $553,148 in restitution and $690,624 in forfeiture.  Cuevas pleaded guilty on Oct. 13, 2011, to conspiracy to commit wire fraud, wire fraud and money laundering conspiracy.  Cuevas admitted that he participated in a scheme to defraud the Ex-Im Bank of more than $690,624.

According to court documents, Cuevas was the owner of CT Implement Inc., a farm equipment sales company in Fabens that purported to be in the business of exporting U.S. agricultural equipment to Mexico.  During his plea hearing, Cuevas admitted that he helped others prepare and submit false applications, financial records and export documents to two lending banks to assist co-conspirators in Mexico in obtaining two Ex-Im insured loans purportedly for the purchase of equipment from Cuevas’ company.  Once the loans were approved, Cuevas admitted that he acted as a money launderer by illegally transferring Ex-Im Bank insured proceeds to both borrowers and others in Mexico.  Both loans defaulted and caused Ex-Im Bank to pay claims totaling $583,430 to the lending banks.

Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing.  Ex-Im Bank provides a variety of financing mechanisms to help foreign buyers purchase U.S. goods and services.

The case is being prosecuted by Trial Attorneys Patrick Donley and William Bowne of the Criminal Division’s Fraud Section and Assistant U.S. Attorney Steven Spitzer of the Western District of Texas, El Paso Office.  The case was investigated by the Ex-Im Bank Office of Inspector General and ICE-HSI El Paso.  The Financial Crimes Enforcement Network (FinCEN) also provided valuable assistance and financial analysis in this investigation.

CHAIRMAN EXPORT-IMPORT BANK COMMENTS ON REAUTHORIZATION BILL

FROM:  EXPORT-IMPORT BANK
STATEMENT BY
EX-IM BANK CHAIRMAN AND PRESIDENT FRED P. HOCHBERG
ON THE PASSAGE OF H.R. 2072
May 9, 2012
“After months of rigorous debate, the compromise bill to re-authorize the Export-Import Bank (H.R. 2072) overwhelming passed by the House today will allow the Bank to continue supporting U.S. jobs through exports at no cost to the taxpayers. The Bank will continue financing U.S. exports to meet increasing foreign competition and fill the void when commercial financial support is unavailable. This is a no cost jobs bill. Ex-Im Bank export financing currently supports over 1,000 American jobs every working day.

“The passage of this bipartisan legislation provides much-needed certainty and predictability to U.S. exporters and their workers by extending the Bank’s authority through Fiscal Year 2014 and increasing its portfolio cap to $140 billion. It will provide resources to help meet the President's objective for the Bank's re-authorization which is a key component of his National Export Initiative aimed at doubling exports.  We are hopeful that the Senate will expeditiously consider and pass the bill and send it to the President for his signature.

“H.R. 2072 provides American manufacturers, small businesses, and suppliers continued access to the financing they need to sell their goods and services around the world. As a result, hundreds of thousands of American jobs will be created or sustained.

“During my tenure Ex-Im Bank has focused on improving customer service and reducing processing times in order to increase U.S. exports and create and sustain more jobs. And as Ex-Im Bank’s chairman and president, I am proud to have seen the Bank’s authorizations increase from $14.4 billion to $32.7 billion. Each of the past three years we have set records in export financing. In fiscal year 2011 Ex-Im transactions supported $40 billion in exports from over 3,600 companies --- over 85% of which are small- and medium-sized businesses --- and an estimated 290,000 American jobs. Ex-Im continues to be a fiscally responsible agency and contributes to reducing our nation’s deficit by generating revenue through fees and interest.

“The Administration's support for U.S. exporters has contributed to record export levels, totaling over $2.1 trillion in 2011, 33.5% above the level of exports in 2009 -- representing almost 10 million U.S. jobs. Ex-Im Bank will continue to play a role in supporting the Administration’s export initiative to keep America working.”

THE END IS NEAR FOR THE EXPORT-IMPORT BANK

STATEMENT BY FRED P. HOCHBERG,

CHAIRMAN AND PRESIDENT, EXPORT-IMPORT BANK OF THE UNITED STATES

March 20, 2012

“The Senate’s failure to renew the Export-Import Bank Charter, which expires in 72 days, is a setback for American workers who produce the high-quality goods and services that are in demand around the world.

“Ex-Im Bank increases U.S. jobs, pays for itself and earns money for the U.S. Treasury, and as a result enjoys strong, bipartisan support. However, delays in renewing the Charter threaten over 1,000 export-related jobs that are supported every workday by Ex-Im Bank financing. Not reauthorizing the Bank places American companies at a serious disadvantage against their foreign competitors. We are already hearing that some customers of U.S. exporters are considering switching their purchases to foreign companies due to the uncertain availability of future Ex-Im Bank financing.

“We will continue to work with House and Senate leadership and I am confident that Congress will ultimately approve a four-year reauthorization of our Charter, but I urge them to act promptly before serious damage is done to American competitiveness.”

The above excerpt is from an Export-Import Bank e-mail:

U.S. EXPORTS $180.8 BILLION IN JANUARY 2012

The following excerpt is from an Export-Import Bank e-mail:

"U.S. EXPORTS HIT MORE THAN $180 BILLION IN JANUARY

WASHINGTON, D.C. – The United States exported $180.8 billion in goods and services in January 2012, an increase of  more than $1 billion over December 2011, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department.

Exports of goods and services over the last twelve months totaled $2.118 trillion, which is more than 34 percent above the level of exports in 2009. Over the last twelve months, exports have been growing at an annualized rate of 15.3 percent when compared to 2009, a pace greater than the 15 percent required to double exports by the end of 2014.

"The Brookings Institute yesterday released the report, “Export Nation 2012,” and it confirmed that exports are leading the way toward economic recovery,” said Fred P. Hochberg, chairman and president of the Export-Import Bank of the United States (Ex-Im Bank). 

The Brookings report also found sales grew by more than 11 percent in 2010, the fastest growth since 1997. In terms of job creation, the number of U.S. total export-supported jobs increased by almost 6 percent in 2010, even as the overall economy was still losing jobs. Further, large metropolitan areas powered the nation’s export growth – the largest metro areas produced almost 65 percent of the U.S. export sales in 2010.

Over the last twelve months, the major export markets with the largest annualized increase in U.S. goods purchases were Turkey (40.7 percent), Panama (37.9 percent), Argentina (34.0 percent), Honduras (32.9 percent), Chile (30.2 percent), Hong Kong (30.2 percent), Peru (29.0 percent), South Africa (27.6 percent), Brazil (26.7 percent), and Guatemala (25.6 percent).

In the first quarter of fiscal year 2012, Ex-Im Bank approved $4.26 billion in authorizations, supporting approximately 37,000 American jobs. Over $789 million in export financing was authorized for small businesses, and the number of small business customers increased by 10% over the same quarter in 2011."

EX-IM BANK WILL FIANCE $83 MILLION SALE OF U.S. LOCOMOTIVES TO CANADA

The following excerpt is from the Export-Import Bank website:

"Ex-Im Bank Approves $83 Million in Export Financing for Sale of U.S.  Locomotives to Canada

Transaction Supports 500 American Jobs Across Six States
WASHINGTON, D.C. --- The Export-Import Bank of the United States (Ex-Im Bank) approved an $83.1 million loan guarantee to support the sale of six American-made locomotives, railroad cars, and mining equipment to the Iron Ore Company of Canada (IOC). This transaction supported 500 U.S. jobs across a range of American businesses in six states (Arkansas, Illinois, Missouri, Tennessee, Virginia and Wisconsin).
“As global infrastructure investment increases, high quality, American-made locomotives and equipment are in demand around the world,” said Fred P. Hochberg, chairman and president of Ex-Im Bank.  “Ex-Im is committed to ensuring that the financing is in place to allow American companies to win a growing share of these sales. These transactions bolster our manufacturing base, while creating, supporting and sustaining good jobs in communities across the United States.”

2011 was a record year in locomotive financing for Ex-Im Bank, with more than $550 million supporting the sale of American-made locomotives to hard to reach markets, including Kazakhstan and South Africa.

The U.S. companies involved in the IOC transaction include Electro-Motive Diesel, Inc. (EMD) (LaGrange, Ill.), American Rail Car Industries Inc. (St. Charles, Mo.), Freightcar America Inc. (Chicago, Ill.), Harnischfeger Corp. (Milwaukee, Wisc.), Komatsu America Corp. (Peoria, Ill.), and Caterpillar, Inc. (Peoria, Ill.). Comerica Bank (Detroit, Mich.) is the guaranteed lender.

“These companies build products that are built to last and in the process they are building an American economy that is built to last – one that is driven by manufacturing, exports and the most talented and productive workers in the world,” added Hochberg.
This is the second order backed by Ex-Im Bank financing for IOC. The locomotives, railroad cars, and mining equipment are being used to expand IOC’s production in Labrador City, Newfoundland.

ABOUT EX-IM BANK
Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years, Ex-Im Bank has earned for U.S. taxpayers nearly $1.9 billion above the cost of operations. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.

EXPORT-IMPORT BANK HELPS BOEING SECURE MASSIVE LOAN

The following excerpt is from a U.S. Export-Import e-mail:

“EVERETT, WASH.: The Export-Import Bank of the United States (Ex-Im Bank) announced today that The Boeing Company is participating in the Bank’s Supply-Chain Finance Guarantee program, which provides competitively priced working capital financing to suppliers of goods or services to U.S. exporters.

Ex-Im Bank approved the Boeing supplier program in September 2011 with an initial capacity of $740 million. Ex-Im Bank can guarantee up to 90 percent of that capacity. Citibank N.A. (Citi) will serve as the lender operating the program for Boeing’s suppliers. Boeing joins Caterpillar and Case New Holland (CNH) as exporters currently participating in Ex-Im’s program.

The announcement was made today at an event at Boeing’s manufacturing facility in Everett, Wash., where President Barack Obama called for congressional reauthorization of Ex-Im Bank and announced executive branch initiatives to improve the competitive position of U.S. companies, particularly small businesses.

“Ex-Im is proud to have America's number-one exporter, Boeing, join with us in supporting the company's small-business suppliers in the use of our supply-chain financing product. Eligible companies will be able to more quickly turn their accounts receivable into cash, helping them power more sales and support more American jobs," Ex-Im Bank Chairman Fred. P. Hochberg said today.

“Increasingly Boeing has called on small business to help us in sustaining export-related jobs. The Supplier Financing Program is a great tool to encourage this key growth area to prosper,” said Tom Dillon, Boeing corporate finance director who led the program’s implementation. “Small business can truly join larger exporters in working together to grow much needed jobs supported by demand for American products the world wants.”

Ex-Im Bank’s Supply-Chain Finance Guarantee Program enables suppliers to receive early payment of their accounts receivable that are due from participating exporters, such as Boeing, in exchange for a small discount fee that is paid to the lender. Ex-Im Bank provides a 90 percent guarantee of the invoices while the lender (Citi for Boeing suppliers) bears 10 percent of the risk.

Under the Ex-Im program, approved lenders must have an existing supply-chain finance program. Ex-Im Bank has set a target that at least 50 percent of the credit be extended to suppliers that meet the definition of a small business as defined by the U.S. Small Business Administration by the end of the 12-month term. The end products must be for export and must meet Ex-Im Bank’s requirements for U.S. content.

About Ex-Im Bank:

Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance, and financing to help foreign buyers purchase U.S. goods and services. In the past five years, Ex-Im Bank has earned for U.S. taxpayers $1.9 billion above the cost of its operations.

Ex-Im Bank approved $32.7 billion in total authorizations in FY 2011 -- an all-time Ex-Im record. This total includes more than $6 billion directly supporting small-business export sales -- also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $41 billion in U.S. export sales and approximately 290,000 American jobs in communities across the country.”