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NEW YORK—American International Group Inc. has reached another milestone in its efforts to repay the assistance the company received during the financial crisis, the company said Tuesday.
AIG confirmed that a $5.0 billion loan it extended to Maiden Lane III L.L.C., a holding company established in 2008 by the Federal Reserve Board and the U.S. Treasury Department as part of the AIG bailout, has been repaid in full.
The repayment was made with the proceeds from the auction of ML III assets by the FRBNY.
“AIG remains committed to making American taxpayers whole, plus a profit,” AIG President and CEO Robert H. Benmosche said in a statement. “The continued successful sale of ML III assets is another sign of the progress we have made with our partners at the U.S. government to achieve our goal of profitably reducing the American taxpayer's investments in AIG.”