AIG Repays $4 Billion in Fed Loans

American International Group Inc. (AIG) said on Monday that it has repaid the U.S. government almost $4 billion as its aircraft-leasing subsidiary International Lease Finance Corp. was able to sell $4.4 billion of debt.

The funds will repay a portion of the company’s revolving facility with the Federal Reserve Bank of New York.

“This is continuing tangible evidence of AIG's progress in repaying the American taxpayers,” AIG CEO Robert Benmosche said in a statement. “AIG is getting stronger every day. We still have more work to do, but we will finish the job and make sure we repay the American taxpayers.”

The New York-based AIG has been shedding assets to repay its taxpayer obligations after receiving several federal bailouts in September 2008.