AIG Will Repay Fed Loans Worth $4 Billion

FOXBusiness

Insurance giant American International Group (NYSE:AIG) announced on Monday it will repay $4 million worth of taxpayer money with earnings made from the sale of debt.

International Lease Finance completed the sale of $4.4 billion in debt, $3.9 million of which will be used by AIG to repay the Federal Reserve Bank of New York. This will reduce AIG’s balance to $15 billion, or $21 billion with interest.

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Excluding the recent payment, AIG’s outstanding balance owed to Uncle Sam stood at $101 billion, including debt and AIG preferred shares.

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