Ex-Im Bank to vote on Textron loan guarantee today

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The US Export-Import Bank is holding a vote later today on a substantial commercial business aviation deal worth more than $100 million, a source close to the matter says.

The transaction is understood to involve Textron Financial Corporation, a subsidiary of Textron, the NYSE-listed manufacturer of Bell helicopters and Cessna aircraft.

"The deal involves a loan guarantee to support a variety of sales of aircraft and helicopters to a number of buyers between May this year and October next year," the source says.

Depending on the outcome of today's vote, Congress will then be notified and a second and final vote will ensue 35 days later.

To date, the bank has used up $93 billion of its $100 billion exposure limit, which is valid until 31 May.