TC Represents U.S. Export-Import Bank in Rig Financing

FOR IMMEDIATE RELEASE

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Roy Bowman and Eileen Brown, partners in the Washington, D.C. office, represented the Export-Import Bank ("Ex-Im Bank") in the financing of an offshore oil-drilling rig purchased by Perforadora Central Group in Mexico. The rig, built by the LeTourneau division of Rowan Drilling, was delivered on June 18, 2007. Ex-Im Bank guaranteed $54 million of the $130 million cost of the rig, the first financing of a mobile drilling rig to be guaranteed by Ex-Im Bank. The transaction won Trade Finance magazine's 2006 Deal of the Year award. Ean Hundley, paralegal, assisted in the closing of the deal. For more information on this project and Ex-Im Bank's role, please click here to read the related press release and to see a photo of the rig.