AIG to terminate swap agreement with Brookfield Asset Management American International Group (AIG) announced that it has agreed to the consensual termination of an interest rate swap agreement with Brookfield Asset Management (BAM) in exchange for the payment from Brookfield to AIG of $905M. This swap agreement was part of the remaining derivatives portfolio of AIG Financial Products and carried on AIG’s June 30 balance sheet at $900M, and the settlement is not expected to have an impact on AIG’s profit or loss. This swap agreement was subject to previously disclosed litigation which the parties have agreed to dismiss. The proceeds of the settlement are expected to contribute towards the continued wind down of the remaining derivatives portfolio of AIGFP, which is a part of Global Capital Markets, AIG said.
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