Embraer closed a $200 million credit facility to finance purchases from direct suppliers in the United States. Citibank is providing the financing, which is guaranteed by the Export-Import Bank of the United States (EXIM).
This credit facility 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,” Antonio Carlos Garcia, CFO of Embraer, said.
“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,” Miguel Queen, Citi Brazil head of large corporates, said.
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