Re: Funding for a U.S. Government Oil purchase contract

[Ghassan Hitti <ghitti@gmail.com>]

Hi there,

 

My company does not do this kind of financing. Your best bet is a line of credit from a bank. Unfortunately, for that kind of money (I assume you mean USD 120 million) you would need some kind of relationship with a commercial bank. I can ask around to see if anyone does this from my contacts here.  A couple of questions though, where is your client located? is it a US company or some other domicile? Why does he need a UAE bank to provide financing, why not a US bank?

On Mon, Aug 23, 2010 at 8:06 PM, Haytham Faraj <haytham@puckettfaraj.com> wrote:Un

Hi Ghassan,

I have a client that we are putting a U.S. Government oil contract for.  The money is guaranteed because the U.S. Government is the purchaser.  I need to help him raise additional capital to cover the 30-60 days between his payment to the refinery and his receipt of payment from the U.S. Government.  The Government contract can be drafted to pay the financier directly based on the parties agreement.  Please advise if your company does these types of deals.  If not, I would appreciate a name of a fund of a bank in the UAE that may be interested in this type of deal.  The contract we’re currently working on is worth about $120.  He would need to raise about 80-90% of the contract value.

 

Haytham Faraj, Esq.

PUCKETT & FARAJ, PC

_______________________

WASHINGTON DC METRO

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Suite 210

Alexandria, VA 22314

703-706-0442 Phone

 

DETROIT METRO

6200 Schaefer Road

Suite 202

Dearborn, MI 48126

313-457-1390 Phone

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www.puckettfaraj.com

 

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