National News
AIG Draws $2.1 Billion to Buy Aircraft Leasing Firm Shares
American International Group Inc. tapped the U.S. government for another $2.1 billion to buy shares of its aircraft leasing arm, International Lease Finance Corp, or ILFC, the insurer said in a regulatory filing Friday.
AIG, bailed out last year by the government, is trying to sell ILFC. It was able to draw from a credit facility established by the Federal Reserve Bank of New York, and said in the Securities and Exchange Commission filing it expects to receive the funds on Nov. 13.
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The insurer last month extended $2 billion in credit, also drawn from the facility, to ILFC, allowing the unit to meet debt obligations.
(Reporting by Jonathan Spicer)
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