AIG Draws $2.1 Billion to Buy Aircraft Leasing Firm Shares

November 8, 2009

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)

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