Ex-Im Bank Approves First Financing of U.S. Exports to Tajikistan

<div class="xn-content"><p><span class="xn-location"><location value="LU/us.dc.wash" idsrc="xmltag.org">WASHINGTON</location></span>, <span class="xn-chron"><chron>Oct. 5, 2011</chron></span> /PRNewswire/ -- <org>The Export-Import Bank</org> of <span class="xn-location"><location value="LC/us" idsrc="xmltag.org">the United States</location></span> (<org>Ex-Im Bank</org>) is supporting its first transaction in the Central Asian nation of <span class="xn-location"><location value="LC/tj" idsrc="xmltag.org">Tajikistan</location></span>: the purchase of Boeing Next-Generation 737-900ER aircraft by <org>Somon Air</org>, a privately owned airline based in <span class="xn-location"><location value="LU/tj..dushan" idsrc="xmltag.org">Dushanbe, Tajikistan</location></span>. </p><p>(Logo: <a href="http://photos.prnewswire.com/prnh/20110414/MM83673LOGO">http://photos.prnewswire.com/prnh/20110414/MM83673LOGO</a>) </p><p>This is Boeing's first sale to <org>Somon Air</org> and the first export of its 737-900ER and "Sky Interior" aircraft to <span class="xn-location"><location value="LB/cas" idsrc="xmltag.org">Central Asia</location></span>. The aircraft are fitted with engines from <org value="ACORN:2806123871" idsrc="xmltag.org">CFM International Inc.</org> in <span class="xn-location"><location value="LU/us.oh.cincin" idsrc="xmltag.org">Cincinnati, Ohio</location></span>. <org>Somon Air</org> accepted delivery of the first of the aircraft from Boeing last week.</p><p>Ex-<span class="xn-person">Im Bank</span> is providing an <span class="xn-money"><money>$80 million</money></span> guarantee of the loan from the <org value="ACORN:339774743" idsrc="xmltag.org">Private Export Funding Corp.</org> (PEFCO). The financing is structured as an asset-backed finance lease secured by first-priority mortgages on the aircraft.</p><p>"This historic transaction not only supports U.S. manufacturing jobs in both <span class="xn-location"><location value="LU/us.dc.wash" idsrc="xmltag.org">Washington</location></span> and <span class="xn-location"><location value="LS/us.oh" idsrc="xmltag.org">Ohio</location></span> but also employment at Boeing's suppliers across the country, including many small businesses. It also assists <org>Somon Air</org> in the expansion of its fleet," said <org>Ex-Im Bank</org> Chairman and President <span class="xn-person"><person>Fred P. Hochberg</person></span>.</p><p>"This delivery was a series of firsts – the first 737-900ER with Boeing's new Sky Interior going into the region and Somon Air's first time benefitting from <org>Ex-Im Bank</org> support. We are delighted that the Bank could help a new, small airline to realize its goal of operating new Boeing aircraft," said <span class="xn-person"><person>Marty Bentrott</person></span>, vice president of Sales for <span class="xn-location"><location value="LR/mde" idsrc="xmltag.org">Middle East</location></span>, <span class="xn-location"><location value="LC/ru" idsrc="xmltag.org">Russia</location></span> and <span class="xn-location"><location value="LB/cas" idsrc="xmltag.org">Central Asia</location></span>, Boeing Commercial Airplanes.</p><p>"Ex-Im Bank's support in this financing for <org>Somon Air</org> is very important. It is the first <org>Ex-Im Bank</org> deal in <span class="xn-location"><location value="LC/tj" idsrc="xmltag.org">Tajikistan</location></span>, and we are proud to be part of this historic event. Ex-<span class="xn-person">Im Bank</span>'s support has enabled our airline to secure long-term financing for these aircraft. We hope that this deal will open many more opportunities for <org>Somon Air</org> as we grow and for other Tajik companies," said <org>Somon Capital</org> CEO <span class="xn-person">Jamshed Rahmonberdiev</span>.</p><p><org>Somon Air</org>, the first privately owned airline in <span class="xn-location"><location value="LC/tj" idsrc="xmltag.org">Tajikistan</location></span>, began operating flights to <span class="xn-location"><location value="LU/ru..moscow" idsrc="xmltag.org">Moscow</location></span> in 2008. The airline presently operates regular flights to <span class="xn-location"><location value="LU/de..frankf" idsrc="xmltag.org">Frankfurt, Germany</location></span>; <span class="xn-location"><location value="LU/ae..dubai" idsrc="xmltag.org">Dubai, United Arab Emirates</location></span>; <span class="xn-location"><location value="LU/tr..istnbl" idsrc="xmltag.org">Istanbul, Turkey</location></span>; <span class="xn-location"><location value="LU/kz..almaty" idsrc="xmltag.org">Almaty, Kazakhstan</location></span>; <location value="LU/cn..urumqi" idsrc="xmltag.org">Urumqi</location>, <span class="xn-location"><location value="LC/cn" idsrc="xmltag.org">China</location></span>; <span class="xn-location"><location value="LU/ru..moscow" idsrc="xmltag.org">Moscow</location></span>, <span class="xn-location"><location value="LU/ru..saiurg" idsrc="xmltag.org">St. Petersburg</location></span> and several other cities in <span class="xn-location"><location value="LC/ru" idsrc="xmltag.org">Russia</location>&lt;/span>.</p><p>About <org>Ex-Im Bank</org>:</p><p>Ex-<span class="xn-person">Im Bank</span> 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 is a self-sustaining agency that receives no net appropriation from the <org>U.S. Congress</org> and charges interest and fees to fund its transactions.</p><p>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.</p><p>Ex-<span class="xn-person">Im Bank</span> approved approximately <span class="xn-money"><money>$25 billion</money></span> in authorizations in FY 2011 through <span class="xn-chron"><chron>August 2011</chron></span> -- an all-time Ex-Im record. This total includes more than 2,500 U.S. small-business transactions. Ex-<span class="xn-person">Im Bank</span>'s authorizations through August are supporting more than <span class="xn-money"><money>$30 billion</money></span> in U.S. export sales and 213,000 American jobs in communities across the country. For more information, visit the Bank's Web site at <a href="http://www.exim.gov/">www.exim.gov</a>.</p><p>SOURCE <org>Export-Import Bank</org> of <span class="xn-location"><location value="LC/us" idsrc="xmltag.org">the United States</location></span></p></div>