Bloomberg News

AIG Lifts Debt Buyback to $2.5 Billion as Offer Oversubscribed

June 26, 2014

American International Group Inc. (AIG:US), the largest commercial insurer in the U.S. and Canada, increased by $1 billion the maximum amount it will spend to repurchase bonds in an offer expiring next month.

AIG’s plan has been boosted 67 percent to $2.5 billion after the offer was oversubscribed, the New York-based insurer said today in a statement distributed by Business Wire. Junior securities will account for as much as $1.8 billion, AIG said.

To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net


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Companies Mentioned

  • AIG
    (American International Group Inc)
    • $56.13 USD
    • 0.35
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