Lion Air secures $1.1bn Ex-Im financing

Victoria
By Victoria April 1, 2013 10:15

Lion Air secures $1.1bn Ex-Im financing

The Export-Import Bank of the United States (Ex-Im Bank) has approved a final commitment of $1.1 billion to finance the export of a fleet of Boeing 737-900ER (extended range) aircraft with CFM International aircraft engines to Lion Air. The aircraft will be delivered to Lion Air, Malindo Airways (Malaysia) and Batik Air (Indonesia).

“Ex-Im Bank is pleased to support part of Lion Air’s historic purchase order of Boeing extended-range aircraft. This is a tremendous opportunity for American exporters and will help to sustain thousands of jobs in the U.S. aerospace industry for years to come,” said Ex-Im Bank Chairman and President Fred P. Hochberg.

The authorization is a final commitment of a preliminary offer of financing that the Bank approved in 2011. Ex-Im Bank is providing a guarantee of financing provided by Apple Bank for Savings in New York, N.Y. Additional funding may be provided by capital-markets investors via an Ex-Im Bank-guaranteed bond.

The financing will support a portion of Lion Air’s outstanding orders for B737-900ER aircraft, which includes 230 Boeing 737 aircraft ordered in November 2011 – the largest commercial aircraft order in aviation history.

Lion Air President and CEO Rusdi Kirana said: “This substantial final commitment reinforces the invaluable relationship that we enjoy with the US Ex-Im Bank and positions the Lion Group and Transportation Partners for future growth across the ASEAN region.”

Victoria
By Victoria April 1, 2013 10:15
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