HSBC Awarded Ex-Im Bank Global Lender of the Year Financing Totals $2.4 billion in FY '13
WASHINGTON, April 24, 2014 /PRNewswire-USNewswire/ -- HSBC Bank USA, N.A. (HSBC) received the Global Lender of the Year award from the Export-Import Bank of the United States (Ex-Im Bank). The award was presented at the Bank's 39th Annual Conference in Washington, D.C.
HSBC's global footprint allows it to originate and structure a diverse range of Ex-Im Bank supported transactions from short-term working capital programs to highly structured projects, including complex aircraft and satellite financing. In FY 2013, HSBC's use of Ex-Im Bank's programs led to 40 authorizations, both large and small, that totaled more than $2.4 billion.
"Through its commitment to exporters, HSBC is opening new markets for American products around the world and creating new jobs here at home," said Ex-Im Bank Chairman and President Fred P. Hochberg. "We look forward to continuing our work with HSBC as they expand their portfolio of financing products for exporters and help more U.S. companies thrive in the global marketplace."
HSBC is active in many of Ex-Im Bank's special programs such as the China Framework Lending Program, and serves in the role of Facility Agent in the Ex-Im Bank direct lending program. HSBC offers a broad array of complex funding options in addition to its own funding, including (in conjunction with other members of HSBC Group) PEFCO and Ex-Im Bank bond securitization, which can make Ex-Im Bank's loan guarantee more attractive to foreign buyers.
"HSBC is honored to receive this award as Global Lender of the Year" said Irene Dorner, President and Chief Executive Officer, HSBC USA. "As the world's leading bank for international trade, we value our engagement with Ex-Im Bank as we work together to support business growth and trade in the global economy."
Ex-Im Bank's 2014 Annual Conference will focus on the global business environment and prospects for growth. The event will feature prominent members of the business and government community including Secretary of Commerce Penny Pritzker, Secretary of Energy Ernest Moniz, Secretary of Agriculture Tom Vilsack, Former Treasury Secretary and President Emeritus of Harvard University Lawrence Summers, Wells Fargo Chairman and CEO John Stumpf, SpaceX CEO and Chief Designer Elon Musk, Pemex CEO Emilio Lozoya Austin, and Virginia Governor Terry McAuliffe. A full listing of speakers, panelists, and moderators is available on Ex-Im's website: www.exim.gov.
About Ex-Im Bank
Ex-Im Bank is an independent federal agency that creates and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank provides a variety of financing mechanisms, including working-capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services. In the past fiscal year alone, Ex-Im Bank earned for U.S. taxpayers more than $1 billion above the cost of operations.
In FY 2013, Ex-Im Bank approved more than $27 billion in total authorizations to support an estimated $37.4 billion in U.S. export sales and approximately 205,000 American jobs in communities across the country. For the year, the Bank approved a record 3,413 transactions-- or 89 percent--for small-businesses. Small business exporters can learn about how Ex-Im Bank products can help them increase foreign sales at http://go.usa.gov/ZVTd. For other information about Ex-Im, visit www.exim.gov.
SOURCE Export-Import Bank of the United States