Investors seeking a new type of bond are about to have that opportunity.

According to a Bloomberg report, American International Group (AIG) is preparing to sell bonds based on mortgage insurance written by United Guaranty Corp.

From the Bloomberg report:

When the deal closes, AIG’s United Guaranty Corp. will receive reinsurance protection on about $32.4 billion of loans from Bellemeade Re Ltd., a Bermuda company that’s issuing the debt, according to a marketing document obtained by Bloomberg.

The deal would tap into appetite for mortgage-related investments as low yields on safe debt drive fixed-income buyers to embrace more exotic options. While sales of the kind of bonds that fueled the 2008 housing crisis have stalled, investors have driven up the value of older notes and are snapping up newer types, including securities from taxpayer-backed Fannie Mae and Freddie Mac that allow buyers to share in their risks.

According to Bloomberg report, the new offerings will have three different levels of risk, which are connected to homeowner defaults.

Bloomberg also said that that the new bonds are not expected to be rated initially.