ILFC prepays $750m secured term loan

International Lease Finance Corporation (ILFC) announced that on March 23, 2012, ILFC prepaid in full all amounts outstanding under its $750m secured term loan. The loan was secured by 45 aircraft and related equipment and leases, bore interest at LIBOR plus a margin of 4.75% with a LIBOR floor of 2.00%, and was scheduled to mature on March 17, 2015. The prepayment was made with proceeds from ILFC’s unsecured notes issued on March 19, 2012, composed of $750 million aggregate principal amount of 4.875% senior notes due 2015 and $750 million aggregate principal amount of 5.875% senior notes due 2019. The prepayment reduces ILFC’s funding costs and increases the number of unencumbered aircraft in its fleet.