American International (NYSE:AIG)
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2 Years : From May 2011 to May 2013
International Lease Finance Corporation (ILFC), a wholly owned
subsidiary of American International Group, Inc. (NYSE: 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.
About ILFC
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
About AIG
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
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