There is absolutely no legitimate reason why this deal is being done through the Ex-Im Bank. None. It is simply a gift to the state Mexican oil company and the American contractors which will supply Pemex. That’s it. This deal could easily have been done through private banks. But hey, if you can get the US taxpayers to subsidize a credit line why not get them to do it?
Maybe I can get Ex-Im to refinance my house at lower than market rates. Oh wait, I’m just a US citizen not a mammoth Mexican oil conglomerate.