AIG Announces $3 Billion Credit Facility

American International Group, Inc. announced today it had entered into 364-Day and 3-Year Bank Credit Facilities totaling $3 billion split evenly between the two. AIG also announced that Chartis has entered into a 1-Year $1.3 billion Letter of Credit Facility. Thirty-Six banks participated in the facilities. The facilities will be available upon the closing of the previously announced recapitalization plan with the United States Department of the Treasury, the Federal Reserve Bank of New York and the AIG Credit Facility Trust.