Business & Finance
Business and Finance
Business and Finance
Mon, June 20, 2011
Sun, June 19, 2011
Sat, June 18, 2011
Fri, June 17, 2011 International Lease Finance Corporation Announces Completion of Tender Offers for Certain Outstanding Debt
LOS ANGELES--([ BUSINESS WIRE ])--International Lease Finance Corporation (aILFCa), a wholly-owned subsidiary of American International Group, Inc. (NYSE: AIG) (aAIGa), announced today the completion of its previously announced tender offers to purchase certain of its notes (the aNotesa). ILFC accepted for purchase $1,672,299,000 aggregate principal amount of Notes for total cash consideration, including accrued and unpaid interest, of approximately $1.75 billion.
As of 11:59 p.m., New York City time on June 16, 2011 (the aExpiration Datea), ILFC received valid tenders that were not withdrawn from the holders of the following Notes.
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Aggregate | Total | % of Total | Principal | |||||||||||||||||||||
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| Principal | Principal | Amount | ||||||||||||||||||||
| CUSIP and ISIN | Amount | Acceptance | Tender Offer | Total | Amount | Amount | Accepted for | ||||||||||||||||
Title of Security | Numbers | Outstanding(1) | Priority Level | Consideration(2) | Consideration(2)(3) | Tendered(4) | Outstanding | Purchase | ||||||||||||||||
| Any and All Tender Offers | ||||||||||||||||||||||||
| 4.750% Medium-Term Notes, Series Q, due January 13, 2012 | 459745FN0 and US459745FN06 | $500,000,000 | N/A | $995.00 | $1,025.00 | $293,496,000 | 58.70% | $293,496,000 | ||||||||||||||||
| 5.400% Medium-Term Notes, Series R, due February 15, 2012 | 45974VA99 and US45974VA991 | $750,000,000 | N/A | $1,000.00 | $1,030.00 | $386,623,000 | 51.55% | $386,623,000 | ||||||||||||||||
| Maximum Tender Offers | ||||||||||||||||||||||||
| 5.350% Medium-Term Notes, Series R, due March 1, 2012 | 45974VB23 and US45974VB239 | $600,000,000 | 1 | $1,000.00 | $1,030.00 | $265,371,000 | 44.23% | $265,371,000 | ||||||||||||||||
| 5.300% Medium-Term Notes, Series R, due May 1, 2012 | 45974VB31 and US45974VB312 | $850,000,000 | 2 | $1,006.25 | $1,036.25 | $402,993,000 | 47.41% | $402,993,000 | ||||||||||||||||
| 5.550% Medium-Term Notes, Series R, due September 5, 2012 | 45974VA73 and US45974VA736 | $300,000,000 | 3 | $1,012.50 | $1,042.50 | $100,872,000 | 33.62% | $100,872,000 | ||||||||||||||||
| 5.000% Medium-Term Notes, Series Q, due September 15, 2012 | 459745FR1 and US459745FR10 | $300,000,000 | 4 | $1,005.00 | $1,035.00 | $103,564,000 | 34.52% | $103,564,000 | ||||||||||||||||
| 5.250% Medium-Term Notes, Series Q, due January 10, 2013 | 45974VZX9 and US45974VZX99 | $300,000,000 | 5 | $1,007.50 | $1,037.50 | $72,234,000 | 24.08% | $72,234,000 | ||||||||||||||||
| 6.375% Medium-Term Notes, Series R, due March 25, 2013 | 45974VB72 and US45974VB726 | $1,000,000,000 | 6 | $1,030.00 | $1,060.00 | $305,286,000 | 30.53% | $47,146,000 |
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1 As of June 2, 2011.
2 For each $1,000 principal amount of Notes (excludes accrued but unpaid interest thereon paid in addition to the Tender Offer Consideration or the Total Consideration, as applicable).
3 Includes the Tender Offer Consideration and an early tender payment of $30.00 for each $1,000 principal amount of Notes tendered prior to the Early Tender Date.
4 Includes the Any and All Notes (defined below) that were validly tendered and accepted on the Early Tender Date (defined below) and for which payment was settled on June 3, 2011
As previously announced, on June 2, 2011 ILFC accepted for early payment all of the Notes listed under the heading aAny and All Tender Offersa in the table above (the aAny and All Notesa) that were validly tendered and not withdrawn prior to 5:00 p.m., New York City time, on June 2, 2011 (the aEarly Tender Datea), which was $293,017,000 aggregate principal amount of its 4.750% Medium-Term Notes, Series Q, due January 13, 2012 and $386,510,000 aggregate principal amount of its 5.400% Medium-Term Notes, Series R, due February 15, 2012 (the aAny and All Early Payment Notesa). ILFC settled the payment for such accepted Any and All Early Payment Notes on June 3, 2011. The total cash consideration, including accrued and unpaid interest, for such Any and All Early Payment Notes was approximately $710.1 million.
Also, as previously announced, based on the success of the tender offers, on June 8, 2011, ILFC terminated its previously announced tender offers for its 5.875% Medium-Term Notes, Series O, due May 1, 2013, 5.625% Medium-Term Notes, Series R, due September 20, 2013, and 6.625% Medium-Term Notes, Series R, due November 15, 2013, and returned such notes that were previously tendered.
ILFC accepted all validly tendered Any and All Notes, including the Any and All Early Payment Notes, for total cash consideration, including accrued and unpaid interest, of approximately $710.7 million.
ILFC accepted $992,180,000 aggregate principal amount of the validly tendered Notes listed under the heading aMaximum Tender Offersa in the table above for total cash consideration, including accrued and unpaid interest, of approximately $1.04 billion.
ILFC has deposited with the Depository Trust Company the amount of cash necessary to pay for all Notes that were accepted for payment. Each holder who validly tendered Notes prior to the Early Tender Date that were accepted by ILFC received the Total Consideration, which consists of the Tender Offer Consideration and $30.00 as an early tender payment. In addition, accrued and unpaid interest up to, but not including, the applicable payment date of the Notes, was paid in cash on all tendered and accepted Notes.
Barclays Capital Inc. and J.P. Morgan Securities LLC acted as the Dealer Managers in connection with the tender offers for the Notes.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes subject to the tender offers or any other securities, nor shall there be any offer, solicitation or sale of such securities in any jurisdiction in which such offer, solicitation or sale is unlawful.
About ILFC
ILFC is the international market leader in the leasing and remarketing of commercial jet aircraft to airlines around the world. Through our employeesa™ expertise and passion for aviation, ILFC delivers innovative customized fleet solutions that generate strong financial performance. ILFC currently owns and manages a fleet portfolio of over 1000 aircraft. [ www.ilfc.com ]
About AIG
American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries. 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 in the United States. AIG common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
