NEW YORK--(BUSINESS WIRE)--Oct. 5, 2012--
American International Group, Inc. (NYSE: AIG) announced today that it
had entered into an amended and restated 4-Year $4 billion Bank Credit
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 facility.
“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
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.
Source: American International Group, Inc.
American International Group, Inc.
Jim Ankner (News Media)
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