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Banks hold key as ILFC's unsecured loan falters
16 February 2009
Two types of banks affecting American International Group's sale of ILFC – its existing
unsecured lenders and the ones that it needs to join a new secured facility.
After 18 years of being able to rely on its parent, American International Group (AIG), aircraft leasing company International Lease Finance Corporation (ILFC) is in the market for secured bank debt. Credit Suisse has been mandated to arrange the deal and initially attempted to raise a $3.5 billion secured credit facility. This deal appears to be struggling, and bankers say...
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