AIG plans one more "liability management" exercise in 2013, says management on the earnings call...


AIG plans one more "liability management" exercise in 2013, says management on the earnings call (slides), and that's the call of at least part of $7.4B in hybrids. Together with other actions taken, it should reduce the company's annual interest tab by $290M (company earned about $2B in Q1). Shares +2.3% premarket.
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  • ahouseoforange
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    All part of the effort to be seen by the FED and public to a degree as well as bulletproof once again. This exercise is in conjunction with the ILFC sale becoming final. Combined, both events provide the foundation for the dividend reinstatement at 20 cents per quarter sometime before the end of 2013 and possibly as early as late summer. Also, a simultaneous buyback authorization will likely be announced for around $5 billion and running thru the end of 2014. Both will be a powerful statement underlining the strength of the business and the fact that AIG is undeniably BACK.
    10 May 2013, 10:14 PM Reply Like
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