American International Group issued $2 billion in bonds, the first time it has issued debt since the government bailout of the company in 2008.
According to some reports, the move is a demonstration by the company of its independence as it continues to work off paying more than $100 billion it owes the U.S. government.
In a Securities & Exchange Commission filing, AIG issued $1.5 billion in unsecured senior bonds at a 6.4 percent interest rate due 2020. A second issue, of $500 million in unsecured senior bonds, was at an interest rate of 3.65 percent due 2014.
The bookrunner managers of the sale are Bank of America, Merrill Lynch, Barclays Capital, Citi and Morgan Stanley.
In order to pay back the government, AIG has sold a number of its subsidiaries and held a public offering for AIA. The company said the money raised in the bond offerings will be used to pay back the Federal Reserve Bank of New York.
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