Related News

US Ex-Im Bank has approved an US$86.8mn loan guarantee to help General Motors Electro-Motive Division (GM-EMD), of LaGrange, Illinois and London, Ontario, sell a large number of locomotive upgrade kits and related parts to Turkish State Railways.

Because about 15% of the contract price involves components produced at GM-EMD’s Ontario facility, Ex-Im will receive a counterguarantee from Export Development Canada (EDC) for the Canadian portion of the contract price. Toronto-Dominion Bank, of Houston, Texas, will be the guaranteed lender.