Notice2024-20858
Receipt of Request(s) To Increase the Amount of the Long-Term General Guarantee on the Interest of Secured Notes Issued by the Private Export Funding Corporation (PEFCO)
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
September 13, 2024
Issuing agencies
Export-Import Bank
Abstract
This Notice is to inform the public that Export-Import Bank of the United States ("EXIM") is expected to consider one or more requests to increase the amount of the long-term general guarantee on the interest of Secured Notes issued by the Private Export Funding Corporation (PEFCO). Comments received within the comment period specified below will be presented to the EXIM Board of Directors prior to any final action during the fiscal year ending on September 30, 2025.
Full Text
<html>
<head>
<title>Federal Register, Volume 89 Issue 178 (Friday, September 13, 2024)</title>
</head>
<body><pre>
[Federal Register Volume 89, Number 178 (Friday, September 13, 2024)]
[Notices]
[Page 74943]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-20858]
[[Page 74943]]
=======================================================================
-----------------------------------------------------------------------
EXPORT-IMPORT BANK
Receipt of Request(s) To Increase the Amount of the Long-Term
General Guarantee on the Interest of Secured Notes Issued by the
Private Export Funding Corporation (PEFCO)
AGENCY: Export-Import Bank of the United States
ACTION: Notice
-----------------------------------------------------------------------
SUMMARY: This Notice is to inform the public that Export-Import Bank of
the United States (``EXIM'') is expected to consider one or more
requests to increase the amount of the long-term general guarantee on
the interest of Secured Notes issued by the Private Export Funding
Corporation (PEFCO). Comments received within the comment period
specified below will be presented to the EXIM Board of Directors prior
to any final action during the fiscal year ending on September 30,
2025.
DATES: Comments must be received on or before October 8, 2024 to be
assured of consideration before any final decision on one or more
additional guarantees during the course of fiscal year 2025.
ADDRESSES: Comments may be submitted through <a href="http://Regulations.gov">Regulations.gov</a> at
<a href="http://www.regulations.gov">www.regulations.gov</a>. To submit a comment, enter Export-Import under the
heading ``Enter'' and select Search. Follow the instructions provided
at the Submit a Comment screen. Please include your name, company name
(if any), and on any attached document.
SUPPLEMENTARY INFORMATION:
Reference: AP003048AA.
Brief Description of Nature and Purpose of the Facility: EXIM may
consider one or more general guarantees on the interest of Secured
Notes issued by the Private Export Funding Corporation (PEFCO), in
accordance with both the Guarantee and Credit Agreement, as Amended,
and the Guarantee Agreement between EXIM and PEFCO. The purpose of the
guarantees of interest on the Secured Notes is to facilitate private
funding from the U.S. capital markets for EXIM-guaranteed export
finance transactions.
Total Amount of Guarantees: The exact number is not determinable
due to market-determined pricing and uncertainty as to the amount and
timing of Secured Notes to be issued; however, it could potentially be
in excess of $100 million for Secured Notes issued during the course of
fiscal year 2025.
Reasons for the Facility and Methods of Operation: The general
guarantee serves to guarantee interest on PEFCO's issuance of Secured
Notes. The principal amount of the Secured Notes is secured by a
collateral pool of U.S. Government-risk debt and securities, including
EXIM-guaranteed loans. The proceeds from the Secured Notes are used to
fund additional EXIM-guaranteed loans and provide a liquid secondary
market for EXIM-guaranteed loans.
Party Requesting Guarantee: Private Export Funding Corporation
(PEFCO).
Information on Decision: Information on the final decision for this
transaction will be available in the ``Summary Minutes of Meetings of
Board of Directors'' on <a href="https://www.exim.gov/news/meeting-minutes">https://www.exim.gov/news/meeting-minutes</a>.
Deidre Hodge,
Assistant Corporate Secretary.
[FR Doc. 2024-20858 Filed 9-12-24; 8:45 am]
BILLING CODE 6690-01-P
</pre></body>
</html>Indexed from Federal Register on September 13, 2024.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.