AIG

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Fed reduces AIG's debt by $25 billion

CNN Money - Tue Dec 1, 8:25 am ET

AIG announced Tuesday that it completed a deal wiping out $25 billion of its debt to taxpayers by selling stakes in two subsidiaries to the Federal Reserve Bank of New York.

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AIG gives Fed equity stakes for $25 bln in debt
AFP via Yahoo! News - Tue Dec 1, 9:18 am ET
Bailed-out US insurance giant AIG said Tuesday it had given an equity stake in two subsidiaries to the Federal Reserve in a move to cut its debt to the central bank by 25 billion dollars.
AIG says asset transfer cuts debt by $25 bln
AFP via Yahoo! News - Tue Dec 1, 7:55 am ET
Nationalized US insurance giant AIG said Tuesday it had cut its debt to the Federal Reserve Bank of New York by 25 billion dollars by transferring assets.
AIG Cuts $25 Billion Off Fed Tab
TheStreet.com - Tue Dec 1, 7:25 am ET
AIG is cutting $25 billion off what it owes the Federal Reserve Bank of New York by issuing preferred equity stakes in two life insurance units.
Dubai World, AIG: Tuesday's Headlines
TheStreet.com - Tue Dec 1, 7:40 am ET
Tuesday's early headlines include Dubai World announcing a restructuring plan for $26 billion in debt, and AIG completing a debt-for-equity swap with the New York Federal Reserve.
AIG shares tumble 15%
CNN Money - Mon Nov 30, 6:40 pm ET
Shares of AIG plunged nearly 15% Monday after an analyst hacked the insurance giant' price target 40% in a research note on worries about the company's loss reserves.
American International Group (AIG) reduces debt by $25B via debt-for-equity swaps with New York Fed
New York Daily News - Tue Dec 1, 10:05 am ET
Insurance giant American International Group Inc (AIG) (AIG.N) said on Tuesday it had closed two transactions that reduce its debt with the Federal Reserve Bank of New York by $25 billion through two debt-for-equity swaps.
AIG shares fall after analyst questions reserves
Reuters via Yahoo! News - Mon Nov 30, 12:49 pm ET
Shares of AIG fell 12 percent on Monday after an analyst raised concerns about a possible deficiency in the company's non-life insurance reserves.
AIG Further Cuts Debt Owed U.S.; Readies Global Life Units for Sale
Insurance Journal - Tue Dec 1, 9:06 am ET
American International Group, Inc. (AIG) today said that it has closed two previously announced transactions with the Federal Reserve Bank of New York (FRBNY) that have reduced the debt AIG ...
AIG reduces government borrowings by $25 billion
Newsday - Tue Dec 1, 7:41 am ET
AIG cuts government loan by $25 billion as it takes steps to spin off 2 insurance units
AIG-Greenberg Battle Ends With $150 Million Legal Tab
Law.com - Mon Nov 30, 11:11 pm ET
American International Group's litigation against former CEO Hank Greenberg has been very, very good to Boies, Schiller & Flexner (the Greenberg team) and Paul, Weiss, Rifkind, Wharton & Garrison (the AIG team). How good? As part of the settlement that the parties reached last week, AIG agreed to pay up to $150 million to cover certain legal fees and expenses incurred by Greenberg and former AIG ...