NEW YORK--(BUSINESS WIRE)--Jun. 19, 2014--
American International Group, Inc. (NYSE:AIG) announced today that it
has entered into an amended and restated 5-Year $4 billion Bank Credit
The amended and restated facility replaces the previous 4-Year $4
billion facility that AIG entered into in October 2012. In addition to
the tenor increase, the entire $4 billion facility is now available both
as revolving credit and for the issuance of letters of credit. This is
an increase from the $2 billion letter of credit sublimit that existed
in the previous 4-Year facility.
“We are pleased to have the support of our lenders in amending this
credit facility,” said David Herzog, AIG Executive Vice President and
Chief Financial Officer. “The terms of this newly amended and restated
facility provide greater flexibility to AIG and our subsidiaries.”
Thirty-three 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 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.
Additional information about AIG can be found at www.aig.com
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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.