PEFCO’s Two-Tranche $650 Million Offering

Cleary Gottlieb represented the underwriters, led by HSBC Securities (USA) Inc., Citizens JMP Securities LLC, KeyBanc Capital Markets Inc., and U.S. Bancorp Investments Inc., in a two tranche offering by Private Export Funding Corporation (PEFCO) comprised of $350 million aggregate principal amount of 4.3% secured notes due 2028 and $300 million aggregate principal amount of 4.6% secured notes due 2034.

The offering priced on January 22, 2024, and is expected to close on January 30, 2024.

PEFCO is principally engaged in making U.S. dollar loans to foreign importers to finance purchases of goods and services of United States manufacture or origin.