The board of directors of the Export-Import Bank of the United States (Ex-Im Bank) approved two final commitments aggregating $171 million in export financing for Grupo Aeromexico through its subsidiary Aerovias de Mexico S.A. de C.V. (Aeromexico). The final commitments approved by Ex-Im Bank will support the acquisition to Aeromexico of three Boeing 737 passenger aircraft that were incorporated into its fleet by the end of 2012 (MSNs: 36701, 36702, 36700), as well as various goods and services to be provided by a variety of U.S. exporters.
In order to provide Aeromexico with a natural currency hedge, the final commitments are structured as Mexican Peso denominated Ex-Im Bank guaranteed loans. The guaranteed lenders was Banco Nacional de México (a 100% owned subsidiary of Citibank) and HSBC.