While its chief executive declared that it can "see the finish line," American International Group Inc. proved it can raise money from private investors by signing $4.3 billion in private-sector loan agreements.
The credit is considered a big step for the New York-based insurer, which is trying to carry out a plan to repay a massive government bailout in September 2008.
More than 35 banks participated in the credit lending that includes a three-year facility and a 364-day facility at $1.5 billion each as well as a one-year $1.3 billion facility marked for Chartis, AIG's property and casualty unit.
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