The Export-Import Bank of the United States (US Exim) has rolled out hundreds of millions of dollars in support to manufacturing monolith Boeing, as it works to help the company overcome ongoing challenges in the market.
Last week, US Exim’s board signed off on a pair of guarantees worth a combined total of more than US$830mn backing the export of Boeing aircraft to Turkish Airlines in Istanbul.
US Exim will provide 85% cover to the two separate loans, which are expected to support over 4,000 jobs at Boeing’s manufacturing facilities in Washington State and South Carolina, as well as other suppliers across the country.
The first guarantee, worth US$389.8mn, will cover an asset-backed lease for Boeing B787-9 aircraft. Natixis is arranging the transaction, while JP Morgan Chase and Natixis’ parent company are serving as guaranteed lenders.
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