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AIG uses ILFC repayment to reduce Fed debt
23 August 2010
AIG's aircraft leasing unit ILFC has repaid nearly $4bn in debt to its parent, after completing a $4.4bn bond sale to investors on Friday and it is now expected to be able to fund itself. AIG has used the payment to reduce its debt to the Federal Reserve.
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American International Group (AIG)’s aircraft leasing unit International Lease Finance Corporation (ILFC) has repaid nearly $4bn in debt to its parent, after completing a $4.4bn bond sale to investors on Friday and it is now expected to be able to fund itself.
AIG used the money to reduce its outstanding principal balance to the Federal Reserve Bank of New York (FRBNY) revolving credit facility to slightly more than $15bn, not including accumulated interest and fees.
The payment of...
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