Citigroup (NYSE:C), Bank of America (NYSE:BAC), JPMorgan (NYSE:JPM) Arrange AIG (NYSE:AIG) Credit Facilities

AIG (NYSE:AIG) received $4.3 billion in credit facilities, arranged by Citigroup (NYSE:C), Bank of America (NYSE:BAC) and JPMorgan (NYSE:JPM).

The main bank subsidiary of JPMorgan was the administrative agent in the deals.

AIG CEO Robert Benmosche said in a press release, "This success is another important vote of confidence by the market in AIG. These credit facilities, combined with the debt offering and contingent liquidity facility, demonstrate that AIG has momentum and has made substantial and impressive progress this year.

"As we approach year's end, we believe we are close enough to completing our recapitalization plan that we can see the finish line."

AIG said in a filing with the Securities and Exchange Commission that they have a letter of credit valued at $1.3 billion from its Chartis Inc. insurance subsidiary, and two credit facilities worth $1.5 billion each; one being a three-year facility and the other a one-year facility.

In the early part of December AIG also established a $500 million liquidity facility and raised an additional $2 billion in unsecured notes.

Altogether this month AIG raised $6.8 billion.

AIG closed Monday at $59.38, gaining $5.05, or 9.30 percent.