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(Bloomberg) — American International Group Inc. is showing just how far it’s come in regaining the confidence of debt markets as the insurer bailed out by the U.S. government in 2008 plans bonds it won’t have to repay for 40 years at what could be its cheapest terms ever.

AIG is offering $2 billion of debt today in two parts, including $800 million in 40-year notes that may be sold at about 190 basis points more than similar maturity Treasuries, according to a person with knowledge of the transaction. Proceeds will be used for general purposes, which may include debt repayments, said the person, who asked not to be identified without authorization to speak publicly.

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