American International Group, Inc. (NYSE: AIG) today announced
the final results as of 11:59 p.m., New York City time, on July 16,
2015, the expiration date, of its previously announced maximum cash
tender offer for up to $3.3 billion (U.S. Dollar equivalent)
aggregate principal amount of the notes and debentures issued or
guaranteed by AIG listed in the table below, pursuant to its offer
to purchase dated June 18, 2015. The complete terms of the tender
offer are set forth in the offer to purchase and the related letter
of transmittal.
AIG has accepted all notes and debentures validly tendered and
not withdrawn.
As of the expiration date, the principal amount of notes and
debentures of each series validly tendered and accepted by AIG, the
acceptance priority level and the “Total Consideration” per $1,000,
£1,000 or €1,000 principal amount are as set forth in the table
below. The Total Consideration includes an early participation
amount of $50, £50 or €50 per $1,000, £1,000 or €1,000 principal
amount, as applicable, to be paid to holders who validly tendered
and did not validly withdraw their notes and debentures at or prior
to 5:00 p.m., New York City time, on July 1, 2015 and whose
securities have been accepted for purchase by AIG. Holders who
validly tendered their notes or debentures after 5:00 p.m., New
York City time, on July 1, 2015, and on or prior to the expiration
date and whose securities have been accepted for purchase will
receive only the applicable “Tender Offer Consideration,” which is
equal to the Total Consideration less the early participation
amount.
The payment date is expected to be on or about July 20, 2015.
Holders whose notes and debentures are accepted in this tender
offer will also receive a cash payment representing accrued
interest from the most recent interest payment date to but
excluding the payment date.
Title of
Security Issuer Security Identifier
PrincipalAmountOutstanding(millions)
Acceptance Priority
Levels
Principal Amount Tendered
and Accepted (millions)
Principal Amount Tendered
and Accepted(U.S. Dollar equivalent)
(millions)
Total
Consideration(1)
5.850%Medium-TermNotes, SeriesG, due
January16, 2018
AIG
CUSIP:
02687QDG0
ISIN:
US02687QDG01
$2,411.0 1 $1,303.7 $1,303.7 $1,104.56
6.400% NotesDue 2020
AIG
CUSIP:
026874BW6
ISIN:
US026874BW66
$1,250.9 2 $542.9 $542.9 $1,188.52
3.375% Notesdue 2020
AIG
CUSIP:
026874CX3
ISIN:
US026874CX31
$1,000.0 3 $361.6 $361.6 $1,037.39
8.000% SeriesA-7
JuniorSubordinatedDebentures†
AIG
ISIN:
XS0365324838 (144A)
XS0365323608 (Reg. S)
€13.5 4 €0.6 $0.7 €1,153.21
8.625% SeriesA-8
JuniorSubordinatedDebentures†
AIG
ISIN:
XS0365317113 (144A)
XS0365314284 (Reg. S)
£5.6 5 £0.0 $0.0 £1,148.10
5.60%Medium-TermNotes, SeriesG, due
October18, 2016
AIG
CUSIP:
02687QBC1
ISIN:
US02687QBC15
$645.6 6 $337.7 $337.7 $1,056.31
4.375 per cent.Notes due 26April 2016†
AIG
ISIN:
XS0252366702
€750.0 7 €120.3 $133.1 €1,032.40
5.75% SeriesA-2
JuniorSubordinatedDebentures
AIG
CUSIP:
026874BF3
ISIN:
XS0291641420
£161.7 8 £73.5 $114.9 £1,048.22
4.875% SeriesA-3
JuniorSubordinatedDebentures
AIG
CUSIP:
026874BG1
ISIN:
XS0291642154
€306.2 9 €143.6 $158.9 €1,042.79
6.765%Sterling NotesDue November15,
2017†
AIG
ISIN:
XS0827565663
XS0702072900 (144A)
XS0702072819 (Reg. S)
£281.4 10 £181.2 $283.2 £1,118.85
6.797% EuroNotes DueNovember 15,2017†
AIG
ISIN:
XS0827566711
XS0702072140 (144A)
XS0702071928 (Reg. S)
€61.8 11 €20.6 $22.8 €1,141.16
8½% JuniorSubordinatedDebentures
due2030
AIG Life Holdings, Inc.*
CUSIP:
00138GAA7
ISIN:
US00138GAA76
$116.4 12 $0.0 $0.0 $1,341.95
7.57%
JuniorSubordinatedDeferrableInterestDebentures, Series A
AIG Life Holdings, Inc.*
CUSIP:
00138GAB5
ISIN:
US00138GAB59
$78.9 13 $0.0 $0.0 $1,242.02
8⅛%
JuniorSubordinatedDeferrableInterestDebentures,Series B
AIG Life Holdings, Inc.*
CUSIP:
00138GAC3
ISIN:
US00138GAC33
$227.3 14 $0.0 $0.0 $1,321.47 _____________ *
Guaranteed by AIG. † Listed on the Official List of the Irish Stock
Exchange and traded on its regulated market. (1) Assuming payment
is made on July 20, 2015. Per $1,000, £1,000 or €1,000 principal
amount of notes or debentures. The Total Consideration includes an
early participation amount of $50, £50 or €50 per $1,000, £1,000 or
€1,000 principal amount, as applicable, to be paid to holders who
validly tendered and did not validly withdraw their notes and
debentures at or prior to 5:00 p.m., New York City time, on July 1,
2015 and whose securities have been accepted for purchase by AIG.
Holders whose notes or debentures are accepted in this tender offer
will also receive a cash payment representing accrued interest from
the most recent interest payment date to but excluding the payment
date.
This press release is qualified in its entirety by the offer to
purchase and related letter of transmittal.
AIG retained Barclays Bank PLC, Barclays Capital Inc., Credit
Suisse Securities (Europe) Limited and Credit Suisse Securities
(USA) LLC as the Joint Lead Dealer Managers. Global Bondholder
Services Corporation was the Information Agent and the Depositary.
For additional information regarding the expiration of the tender
offer or the expected payment date, please contact: Barclays Bank
PLC at +44 (0) 207 773 8990 (international); Barclays Capital
Inc. at (800) 438-3242 (toll-free) or (212) 528-7581 (collect);
Credit Suisse Securities (Europe) Limited at +44 (0) 207 888 5564;
Credit Suisse Securities (USA) LLC at (800) 820-1653 (toll-free) or
(212) 538-2147 (collect); or Global Bondholder Services Corporation
by telephone at (212) 430-3774 (for banks and brokers only), (866)
924-2200 (for all others toll-free) or +001 (212) 430-3774
(international), or by email at aig@gbsc-usa.com.
Certain statements in this press release, including those
describing the completion of the tender offer, constitute
forward-looking statements. These statements are not historical
facts but instead represent only AIG’s belief regarding future
events, many of which, by their nature, are inherently uncertain
and outside AIG’s control. It is possible that actual results will
differ, possibly materially, from the anticipated results indicated
in these statements. Factors that could cause actual results to
differ, possibly materially, from those in the forward-looking
statements are discussed throughout AIG’s periodic filings with the
SEC pursuant to the Securities Exchange Act of 1934.
American International Group, Inc. (AIG) is a leading global
insurance organization serving customers in more than 100 countries
and jurisdictions. AIG companies serve commercial, institutional,
and individual customers through one of the most extensive
worldwide property-casualty networks of any insurer. In addition,
AIG companies are leading providers of life insurance and
retirement services in the United States. AIG common stock is
listed on the New York Stock Exchange and the Tokyo Stock
Exchange.
Additional information about AIG can be found at www.aig.com |
YouTube: www.youtube.com/aig | Twitter: @AIGinsurance | LinkedIn:
http://www.linkedin.com/company/aig.
AIG is the marketing name for the worldwide property-casualty,
life and retirement, and general insurance operations of American
International Group, Inc. For additional information, please visit
our website at www.aig.com. All products and services are written
or provided by subsidiaries or affiliates of American International
Group, Inc. Products or services may not be available in all
countries, and coverage is subject to actual policy language.
Non-insurance products and services may be provided by independent
third parties. Certain property-casualty coverages may be provided
by a surplus lines insurer. Surplus lines insurers do not generally
participate in state guaranty funds, and insureds are therefore not
protected by such funds.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150717005464/en/
American International Group, Inc.Investors:Liz Werner,
212-770-7074elizabeth.werner@aig.comorMedia:Jennifer Hendricks
Sullivan, 212-770-3141jennifer.sullivan@aig.com
American (NYSE:AIG)
Historical Stock Chart
From Mar 2024 to Apr 2024
American (NYSE:AIG)
Historical Stock Chart
From Apr 2023 to Apr 2024