Brazilian airframer Embraer has closed a US$200 million credit facility to finance purchases from direct suppliers in the United States.
This financing is being provided by Citibank and guaranteed by the Export-Import Bank of the United States (EXIM), the country’s official export credit agency.
This credit facility with EXIM and Citibank will support Embraer’s efforts to diversify its credit operations in the aviation market worldwide, providing the company with additional financing options and improving its loan profile.
“This credit facility will help us to improve even more our debt profile and to strengthen our long-term relationship with American suppliers. Diversifying our credit operations and looking for new opportunities in our main markets are key to keep improving efficiency in our financial operations,” said Antonio Carlos Garcia, chief financial officer of Embraer.
“We are glad to be able to empower a strategic partner such as Embraer to find more efficient and diversified financing solutions. This operation is a great example of how Citi can leverage its global expertise to broaden the toolset available to our clients to look for solutions better suited to their needs, beyond what’s locally available,” said Miguel Queen, Citi Brazil head of large corporate