Financial and Banking News
LOANS AND ISSUES
Algeria Buys Boeings with EXIM Loan
The United States' government-owned Export-Import Bank (EXIM) has providedAlgeria with a $158mn loan in order to finance the purchase of three Boeing767-300 aircraft worth $252.7mn for the state-owned airline Air Algerie. TheEXIM loan is repayable in 12 years and carries a 8.95% interest rate. EXIM isalso guaranteeing a $56.9mn loan arranged by Citibank which supplements its ownloan, while a...