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American International Group, Inc. Message Board

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  • lottopol.geo lottopol.geo Aug 20, 2010 2:10 PM Flag

    aig sold its bad stuff on aug 11th

    The prospectus for XFP referes to the underlying debentures which are 7.57% due 2045. Only $73 million of those debentures were used to create the XFP certificates but the prospectus cleary referes to the entire American General issue which was about $400 million. What is not clear is if the guarantee covers all American General bonds of which there are about $17 billion outstanding.

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    • It looks like AIG still guarantees the debt of American General Co. (the debentures that underly XFP) but not AGF

      Total borrowings and borrowings not guaranteed or matched at December
      31, 2001 and 2000 were as follows:

      Commercial Paper:
      AGC (a) 2,468 1,921
      AGF (b)
      (a) As of November 2001, AIG guaranteed the notes and bonds of AGC.

      (b) AIG does not guarantee these borrowings.

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