Shearman & Sterling represented Citigroup Global Markets Inc. as a joint lead arranger, in connection with the amendment of two credit facilities, one maturing in 2010 and the other in 2011 (the 2010 and 2011 facilities, respectively), for International Lease Finance Corporation (ILFC), to provide for the extension and collateralization of the $2.5 billion 2011 facility. The original 2011 facility was an unsecured, investment grade revolving credit facility that has been converted into a secured, leveraged term loan facility. Various newly formed, special purpose ILFC subsidiaries have guaranteed and secured the facility by pledging the equity interests they own in various special purpose aircraft-owning entities.

ILFC is an aircraft lessor headquartered in Los Angeles, California.

The Shearman & Sterling team that represented Citigroup included partner Maura O’Sullivan, counsel Barbara Edwards and associate Christopher Setteducati (all Finance Group-New York).