* Company gets more than $5.5 bln in equity, interest
* AIG will get 1/3 of any future profits
July 16 (Reuters) - AIG has been repaid in full for the equity it contributed to Maiden Lane III, one of the entities created during the financial crisis to help rescue the insurer, the Federal Reserve Bank of New York said on Monday.
In the weeks after AIG’s September 2008 near-collapse, the New York Fed created Maiden Lane III to buy collateralized debt obligations from AIG counterparties. The company contributed $5 billion and the bank put up $24.3 billion.
Last month, following a series of asset sales, the New York Fed loan was repaid. On Monday American International Group received its equity back, plus accrued interest. As of July 12, that amount was $5.56 billion, according to Fed data.
Under the original terms of the deal, profits from any future sales will be split between the bank and the company, with AIG getting a one-third share.
Excluding what was owed to AIG, the portfolio had a fair value of about $7.4 billion as of late last week.
Shares in AIG fell 16 cents to $31.28 in afternoon trading.