BEFORE THE BELL-AIG up after closing debt for deal with NY Fed

NEW YORK, Dec 1 (Reuters) - Shares of American International Group Inc (AIG.N) gained in premarket trading on Tuesday after the insurance giant closed two transactions that reduce its debt with the Federal Reserve Bank of New York by $25 billion through two debt-for-equity swaps.

The stock gained 4.4 percent to $29.64. (Reporting by Angela Moon; Editing by Theodore d'Afflisio) ((angela.moon@thomsonreuters.com;+1 646 223 5685; Reuters Messaging:angela.moon.reuters.com@reuters.net))