Corebridge’s $750 Million Offering

Cleary Gottlieb is representing the underwriters in Corebridge Financial Inc.’s (Corebridge) offering of $750 million 5.75% notes due 2034.

Corebridge is the life and retirement subsidiary of American International Group Inc. (AIG).

The notes offering was led by Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, and Wells Fargo Securities LLC as joint bookrunning managers and representatives of the underwriters. In all, 11 underwriters participated in the notes offering, which priced on December 5, 2023. The offering is expected to close on December 8, 2023.

Cleary has represented the underwriters in numerous prior securities offerings by AIG and by Corebridge, dating back to AIG’s re-IPO in 2011. Most recently, Cleary represented the underwriters in Corebridge’s secondary public offering that raised approximately $700 million in December 2023, the underwriters in Corebridge’s secondary public offering that raised $1 billion in November 2023, the dealer managers in AIG’s $1.5 billion cash tender offer in November 2023, the initial purchasers in Corebridge’s senior notes offering that raised $500 million in September 2023, the underwriters in Corebridge’s secondary public offering that raised $1.1 billion in June 2023, the underwriters in AIG’s senior notes offering that raised $750 million in March 2023 and the underwriters in Corebridge’s $1.7 billion initial public offering in September 2022, the largest IPO of 2022.