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RJ & Makay

Our view of news, events and human capital trends in the financial services industry.
Tags >> Robert Benmosche

Promise fulfilled: AIG to repay government tomorrow

Posted by RJ and Makay on Jan 13, 2011
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AIG Repay Gov.A couple years ago, most Americans probably thought this day would never come. But it's just about here.

American International Group (AIG) confirmed yesterday that, on Friday, it would finally repay the massive bailout it received in 2008. It'll cover the debt via complete recapitalization involving the issue of 75 million warrants. The warrants will allow current shareholders to buy AIG common stock at $45 per share, a 23% discount from the $58.40 the stock closed at yesterday.