Ex-Im Bank Approves $350 Million Loan Guarantee for Textron, Sets New Aircraft Process
The Export-Import Bank of the U.S. approved a guarantee of a $350 million loan to assist Textron in financing the exports by two of its companies, Cessna Aircraft Company and Bell Helicopter Textron to international customers. The guaranteed lender is…
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PNC Bank in Pittsburgh. The repayment term is 12 years. The loans will be disbursed on a periodic basis, Ex-Im said. Ex-Im Bank Chairman Fred Hochberg also announced that Ex-Im Bank has approved a new credit process to facilitate and expedite the Bank's financing for business-aircraft and helicopter exports from other U.S. manufacturers that do not have a captive financing company. Under the new process, Ex-Im Bank will work with qualified industry experts to perform due diligence and credit analysis for these business-aircraft and helicopter transactions.