AIG to securitize $5 bln-$10 bln: report

(Reuters) - American International Group is to securitize $5 billion-$10 billion in debt, backed with life insurance

assets, to reduce debt burden under revised U.S. government bailout plan, the Wall Street journal said on Sunday.

* Following securitization, transfer of equity stakes in alico, aia units to government, $60 billion fed credit facility for AIG to be reduced to $25 billion-WSJ

* Transfer of equity stakes in alico, aia overseas units to U.S. government to repay much of $40 billion fed loan: WSJ