AIG announces Swissie buyback as it retreats from non-core

26 Apr 2012

American International Group announced a Sfr350m ($384.74m) maximum buyback on Monday, targeting all of its outstanding Swiss franc bonds. The exercise is part of the group’s deleveraging plans.

As a US dollar based issuer, AIG is looking to wind down its exposures to non-core currency assets as well as its corresponding liabilities.

The tender offer, which will expire at 5pm London time on May 8 and price the following day, targeted AIG’s Sfr350m 2.875% April 2015s, ...

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