AIG to repay nearly $4B in federal bailout loans
NEW YORK — American International Group Inc. says it is repaying nearly $4 billion in federal bailout loans.
The insurer said today it will pay back the taxpayer-funded loans with proceeds from a recently completed $4.4 billion debt sale at its aircraft leasing company, International Lease Finance Corp.
The payment will trim AIG’s outstanding balance on its credit line with the Federal Reserve Bank of New York to about $15 billion. The payment is the largest that AIG has made to that credit line.
Overall, New York-based AIG received a $180-billion federal bailout during the financial crisis to avoid collapse.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- Judge intends to rule on McDaniel's challenge before general election
- Oxford’s FNC getting new headquarters
- QUIRKY? NO, JERKY — Whatever your craving, Beef Jerky Outlets likely has the flavor among 200+ choices
- (UPDATE) I-20 partially closed as vehicle carrying hazardous materials burns
- Coast family wins $644K in tideland lawsuit against state
- Officials set hunting dates for birds; expands dove season by 20 days
- State’s MAGIC accounting system works, albeit with glitches
- Corps official: River needs larger ports, locks and dams
- C Spire, UM installing Wi-Fi network at Vaught-Hemingway Stadium