Citigroup (C), (CS), (BNP) Arrange $1.3 B ILFC (AIG) Loan

A group of 15 banks have committed to a $1.3 billion secured term loan for International Lease Finance Corp., as unit of American International Group Inc (NYSE:AIG). The loan was arranged by Citigroup (NYSE:C), Credit Suisse (NYSE:CS) and BNP Paribas.

International Lease Finance Corp, is a leading aircraft leasing company.

The $1.3 billion loan will be funded over the next year, and will mature in 2018.

ILFC said the funds will be used to prepay existing unsecured and secured bank facilities.

Included in the deal is the right for ILFC to raise the commitment by $200 million from other lenders.

AIG was trading at $35.33, falling $0.72, or 2.00 percent, as of 2:13 PM EDT.