American International Group, Inc. (NYSE: AIG) today announced
the results as of the early participation date of its previously
announced cash tender offer for the notes and debentures issued or
guaranteed by AIG listed in the table below. As previously
announced, the early participation date for the tender offer was
5:00 p.m., New York City time, on March 30, 2015. The complete
terms of the tender offer are set forth in the offer to purchase
dated March 17, 2015 and the related letter of transmittal. The
expiration date of the tender offer is 11:59 p.m., New York
City time, on April 13, 2015, unless extended. The payment date for
this tender offer will be promptly following its expiration and is
expected to be on or about April 15, 2015.
The tender offer was oversubscribed. Assuming no notes or
debentures are validly tendered after the early participation date,
we intend to accept all notes and debentures validly tendered of
acceptance priority levels 1 through 6. Validly tendered debentures
of acceptance priority level 7 will be accepted subject to
proration. No notes or debentures of acceptance priority levels 8
through 17 will be accepted.
The “Reference Yields” will be determined (i) with respect to
each series of notes or debentures denominated in Dollars as of
10:00 a.m., New York City time, today and (ii) with respect to each
series of securities denominated in Sterling or Euro at
3:00 p.m., London time, today.
AIG has retained Barclays Bank PLC, Barclays Capital Inc., BofA
Merrill Lynch, Goldman, Sachs & Co. and Goldman Sachs
International as the Joint Lead Dealer Managers. Global Bondholder
Services Corporation is the Information Agent and Depositary. For
additional information regarding the terms of the tender offers,
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); BofA Merrill Lynch at +44
(0) 20 7995 2929 (international), (888) 292-0070 (toll-free) or
(980) 387-3907 (collect); Goldman, Sachs & Co. at (800)
828-3182 (toll-free) or (212) 902-5183 (collect); or Goldman Sachs
International at +44 (0) 207 774 9862 (international). Requests for
documents and questions regarding the tendering of Securities may
be directed to 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), by
email at aig@gbsc-usa.com or to the Joint Lead Dealer Managers at
their respective telephone numbers.
This news release does not constitute an offer or an invitation
by AIG to participate in the tender offers in any jurisdiction in
which it is unlawful to make such an offer or solicitation in such
jurisdiction.
Certain statements in this press release, including those
describing the completion of the tender offers, 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.
Title of Security Issuer Security
Identifier Principal
Amount
Outstanding
(millions)
Acceptance Priority Levels Principal Amount
Tendered
(millions)
Percent of Amount Outstanding Tendered 8.175% Series
A-6 Junior Subordinated Debentures AIG
CUSIP:
026874BS5
026874BR7 (144A)
U02687BW7 (Reg. S)
ISIN: US026874BS54
US026874BR71 (144A)
USU02687BW75 (Reg. S)
USD 1,195.5 1 USD 587.9 49.2 % 7.57% Junior Subordinated Deferrable
Interest Debentures, Series A AIG Life Holdings, Inc.†
CUSIP: 00138GAB5
ISIN: US00138GAB59
USD 136.2 2 USD 57.3 42.1 % 8.625% Series A-8 Junior Subordinated
Debentures AIG
ISIN: XS0365317113 (144A)
XS0365314284 (Reg. S)
GBP 65.7 3 GBP 60.1 91.5 % 8½% Junior Subordinated Debentures due
2030 AIG Life Holdings, Inc.†
CUSIP: 00138GAA7
ISIN: US00138GAA76
USD 155.4 4 USD 38.9 25.0 % 8.000% Series A-7 Junior Subordinated
Debentures AIG
ISIN: XS0365324838 (144A)
XS0365323608 (Reg. S)
EUR 43.8 5 EUR 30.3 69.1 % 8⅛% Junior Subordinated Deferrable
Interest Debentures, Series B AIG Life Holdings, Inc.†
CUSIP: 00138GAC3
ISIN: US00138GAC33
USD 244.6 6 USD 17.4 7.1 % 6.25% Series A-1 Junior Subordinated
Debentures AIG
CUSIP: 026874BE6
ISIN: US026874BE68
USD 496.2 7 USD 350.8 70.7 % 5.75% Series A-2 Junior Subordinated
Debentures AIG
ISIN: XS0291641420
CUSIP: 026874BF3
GBP 161.7 8 GBP 125.1 77.4 % 8⅛% Debentures Due April 28, 2023
SunAmerica Inc.*
CUSIP: 866930AB6
ISIN: US866930AB63
USD 86.4 9 USD 15.2 17.6 % 6.765% Sterling Notes Due November 15,
2017 AIG
ISIN:XS0827565663
XS0702072900 (144A)
XS0702072819 (Reg. S)
GBP 281.4 10 GBP 199.0 70.7 % 6.797% Euro Notes Due November 15,
2017 AIG
ISIN: XS0827566711
XS0702072140 (144A)
XS0702071928 (Reg. S)
EUR 61.8 11 EUR 15.2 24.6 % 6⅝% Notes Due 2029 AIG Life Holdings,
Inc.†
CUSIP: 026351AZ9
ISIN: US026351AZ90
USD 150.0 12 USD 25.9 17.3 % 5.60% Debentures Due July 31, 2097
SunAmerica Inc.*
CUSIP: 866930AG5
ISIN: US866930AG50
USD 20.3 13 USD 1.8 8.7 % 7½% Notes Due 2025 AIG Life Holdings,
Inc.†
CUSIP: 026351AU0
ISIN: US026351AU04
USD 135.5 14 USD 17.3 12.8 % 4.875% Series A-3 Junior Subordinated
Debentures AIG
ISIN: XS0291642154
CUSIP: 026874BG1
EUR 306.2 15 EUR 219.9 71.8 % 6.820% Dollar Notes Due November 15,
2037 AIG
CUSIP: 026874CW5 026874CE5 (144A)
U02687 CJ5 (Reg. S)
ISIN:US026874CW57
US026874CE59 (144A)
USU02687CJ55 (Reg. S)
USD 243.5 16 USD 162.6 66.8 % 5.850% Medium-Term Notes, Series G,
due January 16, 2018 AIG
CUSIP: 02687QDG0
ISIN: US02687QDG01
USD 2,411.0 17 USD 603.1 25.0 %
_____________
* All obligations of SunAmerica Inc. were assumed by AIG in
1999.
† Guaranteed by AIG.
American International Group, Inc.Liz Werner (Investors):
212-770-7074; elizabeth.werner@aig.comJennifer Hendricks Sullivan
(Media): 212-770-3141; jennifer.sullivan@aig.com
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