AIG Announces $4 Billion Amended and Restated Bank Credit Facility
NEW YORK -- October 05, 2012
American International Group, Inc. (NYSE: AIG) announced today that it had
entered into an amended and restated 4-Year $4 billion Bank Credit Facility.
The amended and restated facility replaces the previous $4.5 billion AIG
facilities ($1.5 billion 364-Day and $3 billion 4-Year) entered into in
October 2011 and includes a $2 billion letter of credit sublimit that will
allow AIG subsidiaries to obtain letters of credit. This is an increase from
the $1.5 billion letter of credit sublimit that existed in the previous 4-Year
“The terms of this credit facility are more favorable and provide greater
flexibility to AIG and our subsidiaries,” said David Herzog, AIG Executive
Vice President and Chief Financial Officer. “We again saw significant interest
in the facility among the lender group, and we are pleased with the continued
confidence they have in the strength of AIG and our future.”
Thirty-four banks participated in the facility, with J.P. Morgan Securities
LLC and Citigroup Global Markets Inc. acting as lead arrangers.
American International Group, Inc. (AIG) is a leading international insurance
organization serving customers in more than 130 countries. 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.
American International Group, Inc.
Jim Ankner (News Media)
(O): (212) 770-3277
(C): (917) 882-7677
Liz Werner (Investment Community)
(O): (212) 770-7074
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