AIG Lifts Debt Buyback to $2.5 Billion as Offer Oversubscribed

American International Group Inc., the largest commercial insurer in the U.S. and Canada, increased by $1 billion the maximum amount it will spend to repurchase bonds in an offer expiring next month.

AIG’s plan has been boosted 67 percent to $2.5 billion after the offer was oversubscribed, the New York-based insurer said today in a statement distributed by Business Wire. Junior securities will account for as much as $1.8 billion, AIG said.

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