Mine Equipment Seller Asks Ex-Im Bank For $1.7B Loan

Law360, New York (February 9, 2012, 3:28 PM EST) -- An unnamed U.S. company has asked the Export-Import Bank of the U.S. for a $1.74 billion loan to finance the sale of mining and transport equipment to Australia, where it will be used to ramp up production at an iron ore mine, the bank said Wednesday.

The request — which is nearly five times bigger than any heavy equipment loan the Ex-Im Bank has approved in at least three years — highlights the opportunities for U.S. suppliers like Caterpillar Inc. and Joy Global Inc. as Australia's...
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