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 $900 million. ILFC plans to use proceeds of the new term loan to repay a portion of the Company’s outstanding debt and related interest expense, to pay related fees and expenses for the transaction, and for general corporate purposes. The senior secured term loan 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.
There can be no assurance that ILFC will be successful in obtaining financing at the time or on the terms it desires.
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