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.
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)
Topics Mergers & Acquisitions Aviation AIG
Was this article valuable?
Here are more articles you may enjoy.
USI Insurance Services Claims Ex-Broker Poached Clients for Own New Agency 
United Co-Pilot Warned Plane Was Slow, Low Before Newark Mishap 
Karen Read Sues Police Agencies That Investigated Her Boyfriend’s Death 
USAA Not Done With Dividends: Florida Reforms Prompt $500M Payout 
