23-May-2011 4:23 PM
ILFC ups tender by USD1 billion
Analysis
AIG's aircraft leasing unit International Lease Finance Corp announced it is increasing the total amount of its cash tender offer for tendered notes from USD750 million to USD1.75 billion. The debt purchase will be funded with proceeds from the lessor's two-part USD2.25 billion senior note offering announced late last week.
Summary
- International Lease Finance Corp (ILFC) is increasing its cash tender offer for tendered notes from USD750 million to USD1.75 billion.
- The debt purchase will be funded by proceeds from ILFC's USD2.25 billion senior note offering.
- ILFC has priced the note offering, with a USD1 billion, five-year tranche at a rate of 5.75% and a USD1.25 billion, eight-year tranche at a rate of 6.25%.
- ILFC is a leading aircraft leasing unit of AIG.
- The announcement of the increased tender offer and note offering has impacted ILFC's share price.
- The share price movements of selected lessors will be provided in the article.
ILFC also priced the note offering. It will offer a USD1 billion, five-year aggregate principal amount at a rate of 5.75%, and a USD1.25 billion, eight-year tranche priced at a rate of 6.25%.
Selected Lessors daily share price movements (% change): 20-May-2011
