ILFC amends unsecured revolving credit facilities totaling USD4.5 billion

International Lease Finance Corporation (ILFC) amended (19-Apr-2010) its two unsecured revolving credit facilities totalling USD4.5 billion. The transaction brings total liquidity raised to approximately USD8 billion generated from debt issuance, sales and debt maturity extensions, all completed in a seven week period. The USD2.5 billion facility originally maturing in Oct-2011 has been amended so that USD2.2 billion of debt now matures in Oct-2012. The amendment also increases the limitation on liens from 12.5% of Consolidated Tangible Net Assets to 35%, giving the company flexibility to issue additional secured debt. As consideration for this amendment, the company has agreed to pay additional fees and to provide collateral to support the loan extension. Meanwhile, the USD2 billion facility maturing in Oct-2010 has been amended to allow the company to provide collateral to facilitate the extension of the USD2.5 billion facility. [more]