Daily News: August 27, 2012

Ex-Im Bank Supports UPS Capital Loan to BIS Energy

The Export-Import Bank of the U.S. said it has authorized a $66.3 million guarantee in favor of UPS Capital Business Credit’s loan to Bis Enerji Elektrik Uretim AS (BIS) of Turkey for the export of American power-generation equipment to the Republic of Turkey.

“Ex-Im Bank’s loan guarantee affords the U.S. companies involved in the transaction an opportunity to export their American-made products to a Turkish market hungry for electricity,” said Ex-Im Bank chairman and president Fred P. Hochberg. “Equally important is the loan guarantee’s impact on American jobs, which will benefit from the increased business.”

“We see UPS Capital Business Credit’s participation in this particular Ex-Im Bank financing opportunity as a reflection of our company’s commitment to helping customers grow their exports,” added Bob Bernabucci, president of UPS Capital. “Export growth is critical not only to the U.S. economy but also to the creation of jobs.”