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International Lease Finance Corporation (ILFC), a wholly owned subsidiary of
American International Group, Inc.
AIG, announced today that it has
closed a new $550 million senior secured term loan. The loan will bear
interest at LIBOR plus 3.75% per annum with a LIBOR floor of 1.0%, and is
priced at 99.5% of par value. It will be secured primarily by a first
priority perfected lien on the equity of certain of the Company's
subsidiaries that directly or indirectly own a pool of aircraft and related
leases.
ILFC used the proceeds to prepay in full and at par its $550 million senior
secured loan originally scheduled to mature on March 17, 2016, which bore
interest at LIBOR plus 5.0% per annum with a LIBOR floor of 2.0% and was
priced at 98% of par value.
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