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ILFC announces offering of USD2.5bn senior secured notes

10-Aug-2010 8:23 AM

International Lease Finance Corporation (ILFC), a wholly-owned subsidiary of American International Group, announced (09-Aug-2010) its intention to offer, subject to market and other conditions, up to USD900 million aggregate principal amount of senior secured notes due 2014, USD800 million aggregate principal amount of senior secured notes due 2016 and USD800 million aggregate principal amount of senior secured notes due 2018. ILFC plans to use the net proceeds from the sale of the senior secured notes to repay a portion of its outstanding secured loans from AIG Funding Inc. The notes will be the senior secured obligations of ILFC and will be guaranteed on a senior secured basis by certain of ILFC’s wholly owned subsidiaries. The notes and guarantees will be secured on a first-priority basis by a portfolio of selected aircraft and related leases and other property. [more]