AIG’s $750 Million Offering

March 23, 2023

Cleary Gottlieb represented the underwriters in American International Group’s (AIG) offering of $750 million 5.125% notes due 2033.

Cleary has represented the underwriters in numerous prior securities offerings by AIG, dating back to AIG’s re-IPO in 2011, and most recently AIG’s carve-out of its life and retirement subsidiary, Corebridge Financial Inc.’s $1.7 billion IPO.

The notes offering was led by Morgan Stanley, J.P. Morgan, and BofA Securities as joint global coordinators and representatives of the underwriters. In all, 10 underwriters participated in the notes offering, which priced on March 23, 2023. The offering will close on March 27, 2023.

AIG is a leading global insurance organization founded in 1919. Today it provides a wide range of property casualty insurance, life insurance, retirement products, and other financial services to customers in more than 70 countries and jurisdictions. Its diverse offerings include products and services that help businesses and individuals protect their assets, manage risks, and provide for retirement security.