ILFC Announces Proposed $550 Million Senior Secured Term Loan
International Lease Finance Corporation (ILFC), a wholly owned subsidiary of American International Group, Inc. (NYSE: AIG), announced today that it intends to raise a new senior secured term loan of $550 million. ILFC plans to use proceeds of the new term loan to refinance the Company's outstanding $550 million senior secured term loan with essentially the same maturity. The new senior secured term loan would 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.
There can be no assurance that ILFC will be successful in obtaining financing at the time or on the terms it desires.
ILFC is the world's largest independent aircraft lessor measured by number of owned aircraft. ILFC's portfolio consists of over 1,000 owned or managed aircraft, as well as commitments to purchase 257 new high-demand, fuel-efficient aircraft and rights to purchase an additional 50 such aircraft. www.ilfc.com
American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange. www.aig.com
International Lease Finance Corporation
Paul Thibeau, +1-310-788-1999