Takeda today announced that its Board of Directors will propose two new candidates for independent external directors at the 146th Ordinary Meeting of Shareholders on June 29, 2022. The new. | April 1, 2022
Reta Jo Lewis’ nomination to the controversial agency comes two years after Congress reauthorized the export credit agency after leaving it moribund from 2015 to 2019 .
Print this article Fred Hochberg, chairman and president of the Export-Import Bank of the United States, testifies before a Senate Banking, Housing and Urban Affairs Committee hearing on Capitol Hill in Washington on January 28, 2014.
(Joshua Roberts/Reuters)
It is rare that we taxpayers get to see how crony deals are made in Washington. But what follows is an example provided to us by the Export-Import Bank.
Bear with me while I give you some background. In January, ExIm announced a deal extending a 90 percent guarantee of a $50 million supply-chain-finance facility from Greensill Capital to Freeport LNG Marketing, LLC, a Texas-based company. The loan was extended through supply- chain-finance (SCF) provider Greensill.
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Building on the Export-Import Bank of the United States (EXIM) Board of Directors’ September 2020 unanimous approval of a supply chain transaction, EXIM President and Chairman Kimberly A. Reed recently announced the signing of two final agreements to make the deal – with the first-ever use of a funder guarantee structure – operative and US$50 million available to Houston-based LNG exporter Freeport LNG.
The transaction is estimated to support 200 American jobs, principally in Texas, as well as through supplier networks in Arkansas, Louisiana, Mississippi, and Oklahoma.
The groundwork for this structure was laid in September 2020, when the EXIM Board of Directors unanimously approved the renewal of EXIM’s partnership with the Private Export Funding Corporation (PEFCO) for 25 years and directed EXIM staff to draft and implement final funder guarantee agreements.