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Rating:Pimco Fund Guaranteed $760 Million of AIG Debt Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, September 16, 2008

Pimco Fund Guaranteed $760 Million of AIG Debt

by: Armie Margaret Lee

The $132 billion Pimco Total Return Fund, run by Bill Gross, guaranteed $760 million of AIG debt as of end-June and that may be costly if AIG does not stay afloat, Bloomberg reports.

The fund backed the bonds by pitching credit default swaps to investors that pay off if AIG defaults. 

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