AIG units' InterNotes canceled, others closed

By Andrea Heisinger

New York, Sept. 15 - Offerings of InterNotes from American International Group, Inc. subsidiaries International Lease Finance Corp. and American General Finance were canceled for the week.

This was due to the unrest in the market, said Incapital LLC CEO Tom Ricketts.

In a news release Monday, Incapital announced the week's offerings from both issuers had been canceled, while those from several other InterNotes programs had been immediately closed.

Those programs included American Express InterNotes, Associated Banc, Banc of America, CAT PowerNotes, Dow InterNotes and General Electric Capital, among others.

Ricketts clarified the cancelation announcement, saying International Lease Finance and American General were canceled for only this week and not permanently.

"When there's a lot of volatility, it's hard to get a good read on prices," he said in explanation of why they were pulled.

As for the closing of the other issuers' notes, he said, "We close out early when the market rallies. When the market rallies like it did this morning, we shut it all down."

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.