International Lease Finance Corp. has sold long term notes worth $650 million. Part of that money will pay for new aircraft that it will to lease to airlines and companies and the rest will pay down debt and go toward other business operations.

The Century City aircraft leasing unit of New York’s American International Group Inc. late Tuesday said it priced the notes at $100 each. The notes have an 8.625-percent coupon rate, and are scheduled to mature on Jan. 15, 2022.

ILFC has 1,000 owned or managed aircraft and has commitments to purchase 252 aircraft for delivery through 2019. The company also has rights to purchase an additional 50 aircraft.

Rating agencies Moody’s Investors Service of Moody’s Corp. has rated the notes “B1” and Standards & Poors’ rating is “BBB-.”

ILFC in September filed for an initial public offering of stock to raise up to $100 million. AIG would continue to control 80 percent of the company, but intends to sell that off within three years through public or private stock sales.