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ILFC Enters into $2 Billion Committed Unsecured Credit Line

Dépèche transmise le 1 février 2011 par Business Wire

LOS ANGELES--(BUSINESS WIRE)--International Lease Finance Corporation (ILFC), a wholly owned subsidiary of American International Group, Inc. (NYSE: AIG), announced today that it has entered into a $2 billion unsecured three-year revolving credit line for the purposes of enhancing its liquidity position and credit profile as it moves forward.

“Our success with this financing is a clear stamp of approval from the commercial bank market as it demonstrates a significant commitment on an unsecured basis”

ILFC Chief Financial Officer Fred Cromer commented, “This transaction reflects the continued confidence in ILFC’s business and our market leadership position. Adding this financing further strengthens our financial foundation and positions the company to strategically act upon opportunities that present themselves in the future.”

“Our success with this financing is a clear stamp of approval from the commercial bank market as it demonstrates a significant commitment on an unsecured basis,” added Senior Vice President and Treasurer, Pamela Hendry. “ILFC appreciates the confidence offered by the eleven banks involved and specifically the efforts of our lead banks which included Citibank, J P Morgan, and Bank of America.”

ILFC raised more than $14 billion in 2010 through a variety of funding sources and other liquidity initiatives, which allowed it to pay off loans from its parent AIG which were received from the U.S. government, and extend its future debt maturities. This year ILFC leadership is planning to implement a number of initiatives which will allow the company to further strengthen its increasingly diversified financing profile.

About ILFC

ILFC is the international market leader in the leasing and remarketing of commercial jet aircraft to airlines around the world. The people of ILFC have a strong commitment to aviation and its role in building relationships across the globe that drive innovation, prosperity, and understanding. ILFC owns a portfolio consisting of approximately 950 jet aircraft.

About AIG

American International Group, Inc. (AIG) is a leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through one of the most extensive worldwide property casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services around the world. AIG common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.