Ex-Im Bank Approves $1.5 Billion in Export Funding to Pemex
The Export-Import Bank of the United States (Ex-Im) has authorized $1.5 billion in export financing to support U.S. exports of goods and services to Mexico’s national gas and oil company Petroleos Mexicanos (Pemex), Ex-Im said on Aug. 29. The financing…
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will come in a pair of transactions, which Ex-Im said will support around 6,800 U.S. jobs and includes drilling platforms, equipment rentals, pumps and associated spare parts, and chemicals. In order to fund these transactions, Pemex will issue Ex-Im-guaranteed bonds in the capital markets, according to a press release. “These two transactions will increase the flow of American exports to one of our neighbors and in the process support large-and small-business jobs across America,” said Ex-Im President Fred Hochberg.