J.P. Morgan in AIG’s Consent Solicitation

August 15, 2018

Cleary Gottlieb is representing J.P. Morgan Securities LLC, as the solicitation agent, in a consent solicitation by American International Group, Inc. (AIG), on behalf of Validus Holdings Ltd. (Validus), a wholly owned subsidiary of AIG and a leading provider of reinsurance, primary insurance, and asset management services, following the completion of AIG’s acquisition of Validus on July 18, 2018.

The consent solicitation commenced on July 27, 2018, and expired on August 15, 2018.

AIG is soliciting consents from holders of Validus’ 8.875 percent senior notes due 2040, to modify or remove certain of the covenants applicable to the notes to conform more closely to the covenants that apply to AIG's existing notes.