Kategorie
Financial results

ILFC Closes $1.5 Billion Senior Secured Term Loan

International Lease Finance Corporation (ILFC), a wholly owned subsidiary of American International Group, Inc. (NYSE: AIG), announced today that it has closed a new senior secured term loan of $1.5 billion. The loan will bear interest at LIBOR plus 275 basis points with a 0.75% LIBOR floor, is priced at 99.5% of par value, and will mature in 2021. The collateral used to support the transaction has an initial weighted average age of 9.1 years. It will be secured primarily by a first priority-perfected lien on the equity of certain of ILFC’s subsidiaries, which directly or indirectly own a pool of aircraft and related leases.

ILFC plans to use the proceeds for general corporate purposes, including purchasing aircraft and supporting the company’s liquidity cushion.

“This $1.5 billion term loan is the largest such deal by any aircraft lessor to date,” said ILFC’s Senior Vice President and Treasurer Pamela S. Hendry. “In addition to obtaining very favorable pricing and terms, we were able to expand our investor base to include those who had not previously invested in this type of loan. This transaction once again reinforces ILFC’s market leading position in aircraft financing.”

The facility was arranged by Deutsche Bank and Goldman Sachs as Joint Lead Arrangers and Joint Bookrunners, and RBC Capital as an additional Joint Bookrunner.

Source / Author: ILFC

Autor: Redakcja Świat

Redakcja Świat