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Monday, November 10, 2008

AIG, U.S. May Restructure Loan in $150 Bn Bailout Package

American International Group Inc., the insurer bailed out by the U.S., may get lower interest rates and more time to repay its debt in a new government rescue package valued at more than $150 billion.

The U.S. will revise the original $85 billion loan that saved the New York-based insurer in September by giving it $40 billion in exchange for preferred shares, and spending $52.5 billion to buy mortgage-backed securities from AIG, according to a person familiar with the situation.
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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Friday, Jun 20
18:00 Fed's Waller speech 2
18:00 Raw Material Price Index 1 -0.4% -0.8% -3.3% Revised from -3.0%
18:00 Industrial Product Price (MoM) 1 -0.5% 0.0% -0.8%
n/a Fed Monetary Policy Report 2
22:30 Baker Hughes US Oil Rig Count 1 438 439
Sunday, Jun 22
22:45 Fed's Daly speech 2
Monday, Jun 23
04:30 S&P Global Services PMI 2 50.6
04:30 S&P Global Manufacturing PMI 2 51
04:30 S&P Global Composite PMI 2 50.5
12:30 Fed's Waller speech 2
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