NEW YORK--(BUSINESS WIRE)--Dec. 12, 2012--
American International Group, Inc. (NYSE:AIG) (“AIG”) today announced
the successful completion of its solicitation of consents (the “Consent
Solicitation”) from holders of record at 5:00 p.m., New York City time,
on November 29, 2012 (the “Record Date”) of its 8.125% Debentures Due
2023, 7.05% Notes Due 2025, 7.00% Notes Due 2026 and 5.60% Debentures
Due 2097 (the “Securities”) to amend (the “Amendment”) the Senior
Indenture, dated as of April 15, 1993, as supplemented by the
Supplemental Indenture, dated as of June 28, 1993, the Supplemental
Indenture, dated as of October 28, 1996, and the Third Supplemental
Indenture, dated as of January 1, 1999 (as so supplemented, the
“Indenture”), in each case between AIG (as successor to SunAmerica Inc.)
and The Bank of New York Mellon Trust Company, N.A. (as successor to the
First National Bank of Chicago), as Trustee (the “Trustee”).
The Consent Solicitation expired at 5:00 p.m., New York City time, on
Wednesday, December 12, 2012 (the “Expiration Time”). Holders of the
Securities who validly delivered and did not revoke their consent prior
to the Expiration Time will receive a consent fee of $2.50 for each
$1,000 principal amount of Securities for which such holder delivered
AIG received the consent of the holders of a majority in aggregate
principal amount of the Securities outstanding as of the Record Date of
all series affected by the Amendment (voting as one class), as required
for the amendment of the Indenture.
In connection with the consummation of the Consent Solicitation, AIG and
the Trustee executed the Fourth Supplemental Indenture, dated as of
December 12, 2012, to the Indenture, in order to effect the Amendment.
The Amendment permits intercompany transfers of Voting Stock of
Restricted Subsidiaries (as those terms are defined in the Indenture):
(i) to AIG; (ii) to any other Restricted Subsidiary that is, and
following such transaction or series of transactions would remain,
wholly owned by AIG, directly or indirectly (including through an entity
that is not a Restricted Subsidiary), or to one or more entities that
are wholly owned by such a Restricted Subsidiary; (iii) to an entity
that, as a result of such transaction or series of transactions, would
become a Restricted Subsidiary that meets the requirements of clause
(ii); or (iv) in a merger of a Restricted Subsidiary with and into
another Restricted Subsidiary or AIG. The Amendment is effective with
respect to all holders of the Securities, including non-consenting
holders and all subsequent holders of the Securities.
American International Group, Inc. (AIG) is a leading international
insurance organization serving customers in more than 130 countries and
jurisdictions. 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.
AIG is the marketing name for the worldwide property-casualty, life and
retirement, and general insurance operations of American International
Group, Inc. For additional information, please visit our website at www.aig.com.
All products and services are written or provided by subsidiaries or
affiliates of American International Group, Inc. Products or services
may not be available in all jurisdictions, and coverage is subject to
actual policy language. Non-insurance products and services may be
provided by independent third parties. Certain property-casualty
coverages may be provided by a surplus lines insurer. Surplus lines
insurers do not generally participate in state guaranty funds, and
insureds are therefore not protected by such funds.
Source: American International Group, Inc.
American International Group, Inc.
Jon Diat, 917-239-924