- AIG announces the results of its tender offers, increasing the maximum purchase consideration from $300 million to $455 million.
- The company accepted $457.14 million in aggregate principal amount of notes, not including those tendered under guaranteed delivery procedures.
- All notes with acceptance priority levels 1-8 were accepted, while notes with levels 9 and 10 were not accepted and returned to holders.
American International Group, Inc. (AIG, Financial) has announced the results of its cash tender offers for certain outstanding notes. Initially, the company increased its maximum purchase consideration from $300 million to $455 million. As part of this process, AIG accepted $457.14 million in aggregate principal amount of the notes (ticker: AIG), excluding those tendered through the guaranteed delivery procedures.
The tender offers, which expired on June 6, 2025, saw notes with acceptance priority levels 1 through 8 being accepted. However, notes with acceptance priority levels 9 and 10 were not accepted and have been returned to the respective holders. The initial settlement date for the accepted notes is set for June 10, 2025, with the guaranteed delivery settlement date scheduled for June 12, 2025.
Holders whose notes were accepted will receive the applicable total consideration in cash, alongside an accrued coupon payment, with interest ceasing to accrue on the initial settlement date. BNP Paribas Securities Corp., BofA Securities, Inc., and U.S. Bancorp Investments, Inc. acted as the lead dealer managers for the tender. Global Bondholder Services Corporation served as the information agent and tender agent.
