NEW YORK — American International Group Inc. late Sunday was reportedly near a deal for a revised bailout package from the U.S. government that would make borrowing terms easier for the troubled insurer.
A proposed $123 billion bailout package would be replaced with a new $150 billion package, according to The Wall Street Journal.
Details of the arrangement could be announced as early as today, when AIG is scheduled to report its third-quarter results, The Journal said. The plan reportedly would replace an $85 billion two-year loan with a $60 billion five- year loan at a lower interest rate.
The government also reportedly would inject $40 billion into AIG in exchange for preferred stock.
AIG representatives were not immediately available for comment.
