American International Group, Inc. (AIG, Financial) has announced its decision to redeem all of its outstanding Zero Coupon Callable Notes due in 2047. The redemption is scheduled to occur on November 22, 2024. On this date, AIG will pay a redemption price of 135.631% of the face amount of the notes to the registered holders.
As of October 21, 2024, the total face amount of the outstanding notes was $400 million. This strategic financial move is part of AIG's ongoing efforts to manage its debt obligations effectively.
It is important to note that this announcement does not serve as the official notice of redemption. Holders of the notes should refer to the formal notice of redemption provided by The Bank of New York Mellon, the trustee responsible for the notes.
This development is a significant step for AIG as it continues to optimize its financial structure and enhance shareholder value. Investors and stakeholders are encouraged to stay informed about further updates from the company.
Should you invest in American International Group Inc (AIG, Financial) right now? Before you do it, it’s important to understand the business profitability and stock valuations, and find out what the warning signs are about. See the in-depth American International Group Inc (AIG) stock research here.
