Treasury: AIG Has Fully Repaid Its Debt

Posted by Orb Staff on March 23, 2012 No Comments
Categories : Residential Mortgage

11154_87564576 Treasury: AIG Has Fully Repaid Its Debt The U.S. Department of the Treasury has announced that American International Group Inc. (AIG) has repaid taxpayers an additional $1.5 billion, thus retiring the federal government's remaining preferred equity investment in the AIG-owned entity AIA Aurora LLC. With this transaction, the Treasury's preferred equity investment related to AIG has now been repaid in full – more than one year ahead of schedule.

‘In the dark days of the financial crisis, when commitments to AIG totaled $182 billion, few would have believed that we'd already be able to reduce that amount by more than 75 percent, or that we may be able to recover every single dollar invested in the company,’ says Assistant Secretary for Financial Stability Tim Massad. ‘This demonstrates the significant progress that AIG and the government have made in restructuring the company's business so that it can repay taxpayers.’

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