AIG looking for $750 loan from Goldman & BOA - Good for taxpayers?

[WhiskeyGirl]

Feb. 23 (Bloomberg) -- American International Group Inc.’s plane unit is seeking a $750 million loan arranged by Bank of America Corp. and Goldman Sachs Group Inc. in the subsidiary’s first debt issuance through capital markets since AIG’s 2008 bailout, said a person with knowledge of the matter.

The loan will be secured against International Lease Finance Corp.’s aircraft and related leases, the AIG unit said late yesterday. Bank of America and Goldman Sachs will hold a meeting on Feb. 25 to discuss the ILFC loan, said the person, who declined to be identified because the talks are private.

Cut to Junk

ILFC is seeking loans less than a week after being cut to junk status by Fitch Ratings on concern about whether AIG would continue to provide support. The downgrade affected about $18 billion of debt, Fitch said in a Feb. 18 statement.

ILFC has more than $24 billion in borrowing through bonds and bank debt as of Sept. 30, according to a regulatory filing. About $3.45 billion of bonds are maturing this year, according to data compiled by Bloomberg.

more here - http://www.bloomberg.com/apps/news?pid=20601087&sid=aLf0YR7Uuz6E&pos=7

Will this come to bite taxpayers in the butt?

Anyone looking out for taxpayers?  Americans?

Or, will this be another shovel of profit to Goldman and BOA?