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What is PEFCO?

04 September 2009

(Private Export Funding Corporation (Pefco) is a private bank that was established with the support of the US Treasury and US Ex-Im Bank to help US exporters. All loans made by Pefco are guaranteed or insured by Ex-Im Bank but it is run to make a profit and owned by large US exporters, including Boeing; banks that finance US exports, including foreign banks; and two financial services companies.

While small business deals accounted for 192 of the 209 deals Pefco financed in 2008 the 12 aircraft finance transactions worth $1.456 billion accounted for 76% of lending by value.

Pefco was launched in April 1970.
Natixis became a Pefco shareholder in 2009.

Shareowners on September 30, 2008:

Banks

Shares

Bank of America, Charlotte
The Bank of New York Mellon
Bank of the West, California
Brown Brothers Harriman & Co., New York
Citibank, N.A., New York
Deutsche Bank, New York
ING Capital LLC, New York
The International Bank of Miami, N.A.
JPMorgan Chase & Co., New York
Key Bank, Cleveland
PNC Bank Corp., Pittsburgh
Regions Bank, Birmingham
The Royal Bank of Scotland, New York
Silicon Valley Bancshares
Société Générale, New York
Standard Chartered Bank, Los Angeles
Sterling National Bank & Trust Company of New York
UBS AG, New York
Union Bank of California, San Francisco
UPS Capital Business Credit, Hartford
U.S. Bank N.A., Minneapolis
Wachovia Corporation, Winston-Salem

1,924
702
79
38
1,066
1,066
120
280
2,496
165
503
20
1,549
42
100
300
39
137
93
266
486
375

Financial Services Companies

Shares

Exporters Insurance Corp.
Radian Asset Assurance Inc.

380
212

Industrial Companies

Shares

Asea Brown Boveri, Inc.
The Boeing Company
The Cessna Aircraft Company
General Electric Company
Halliburton Co., Houston
United Technologies Corporation

80
984
40
200
113
200

Total

14,055


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