AIG’s jet leasing unit, International Lease Finance Corporation (ILFC), has offered to swap up to $2.75 billion in new publicly registered debt for old private notes. ILFC will exchange up to $1.25 billion in 8.625% registered senior notes, due in 2015, for any and all of its outstanding privately placed 8.625% senior notes, due in 2015.
The company is also offering to swap up to $1.5 billion in 8.75% registered senior notes, due in 2017, for any and all of its outstanding privately placed 8.75% senior notes, due in 2017. The exchange offer, which will not affect ILFC’s outstanding debt levels, will expire on May 4, 2011. ILFC will not get any proceeds from the offering.
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