AIG renews $4.5bn credit line
AIG has replaced and extended the terms of a $4.5bn credit line with bankers. The giant insurer has said that the deal will give the group more flexibility.
It has established a four-year $3bn line of credit, including a $1.5bn sub-limit for Chartis and other AIG subsidiaries, and a $1.5bn facility available on a 364-day basis.
The new loans replace the existing $4.48bn credit lines AIG took out in December 2010, most of which was on a shorter-term basis.
Those...
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