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AIG offers to buy back up to $1.25 billion in bonds

AIG said Tuesday that it wants to buy back up to $1.25 billion of its bonds in a move to cut down its debt.

By Associated Press | Updated on February 19, 2013
(AP Photo/Bebeto Matthews)

NEW YORK (AP) — AIG said Tuesday that it wants to buy back up to $1.25 billion of its bonds in a move to cut down its debt.

The insurer is making a “tender offer,” meaning it will pay to buy back bonds from any bondholders who hold a certain class of bonds and are willing to sell.

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