AIG’s $1 Billion Note Tender Offer

Cleary Gottlieb is representing the dealer managers, led by BofA Securities Inc., Citigroup Global Markets Inc., and U.S. Bancorp Investments Inc., in a cash tender offer by American International Group Inc. (AIG) for 13 series of outstanding unsecured notes and debentures issued by AIG.

The aggregate total consideration offered is $1 billion, excluding accrued interest.

The tender offer launched on November 6, 2023, and includes an early participation period ending on November 20, 2023. Early tenders are expected to settle on November 22, 2023, with an expiration date of December 6, 2023, and a final settlement expected on December 8, 2023.

Cleary has represented the underwriters in numerous prior transactions of AIG, dating back to AIG’s re-IPO in 2011, and most recently a $750 million senior notes offering in March 2023.

AIG is a leading global insurance organization. AIG member companies provide insurance solutions that help businesses and individuals in approximately 70 countries and jurisdictions protect their assets and manage risks. AIG common stock is listed on the New York Stock Exchange.

For more information, please see the press release here.