International Lease talks $900 million loan at Libor plus 350-375 bps

By Sara Rosenberg

New York, Feb. 8 - International Lease Finance Corp. launched its $900 million senior secured term loan (Ba3)on Wednesday with price talk of Libor plus 350 basis points to 375 bps with a 1% Libor floor and an original issue discount of 991/2, according to a market source.

The loan has 101 soft call protection for one year, the source said.

Bank of America Merrill Lynch, Deutsche Bank Securities Inc., UBS Securities LLC and RBC Capital Markets LLC are the lead banks on the deal.

Security is a first-priority perfected lien on the equity of certain of the company's subsidiaries that directly or indirectly own a pool of aircraft and related leases.

Proceeds will be used to repay some outstanding debt, including revolver borrowings, and for general corporate purposes.

Commitments are due on Feb. 15.

International Lease is a Los Angeles-based independent aircraft lessor.

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