Details are emerging about the $85 billion loan deal between the Federal Reserve Bank of New York and American International Group, including the firms that assisted in the deal. Davis Polk & Wardwell represented the Treasury Department and the Fed in the deal, according to the firm. Two sources with direct knowledge of the deal say Sullivan & Cromwell represented AIG and Simpson Thacher & Bartlett represented AIG's board of directors. As part of the deal, AIG has agreed to an 11.31 percent interest rate.
Firms Aid in Fed's Bailout of AIG
The American Lawyer
September 18, 2008