The Embraer (EMBR3) announced that the company is closing a US$100 million credit facility to finance supply purchases made in the UK.
The loan was provided by JPMorgan Chase Bank, NA, London Branch and guaranteed by UK Export Finance, a British government agency focused on financing local exports.
In a statement, the company highlighted that this is the first time that UK export finance has been involved in the process with Embraer. In addition to more competitive rates and terms for Embraer’s credit profile, the manufacturer highlights that the move will bring benefits to the company such as diversification of credit operations.
“The diversification of our credit operations is critical in all regions of the world where Embraer operates. We are always looking for actions that improve our credit profile, and this is another step in that direction,” said Embraer, Antonio Carlos Garcia CFO, in a note.
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