AIG Offers Final Results of Maximum Cash Tender Offer

Loading...
Loading...
American International Group, Inc.
AIG
today announced the final results as of 11:59 p.m., New York City time, on July 16, 2015, the expiration date, of its previously announced maximum cash tender offer for up to $3.3 billion (U.S. Dollar equivalent) aggregate principal amount of the notes and debentures issued or guaranteed by AIG listed in the table below, pursuant to its offer to purchase dated June 18, 2015. The complete terms of the tender offer are set forth in the offer to purchase and the related letter of transmittal. AIG has accepted all notes and debentures validly tendered and not withdrawn. As of the expiration date, the principal amount of notes and debentures of each series validly tendered and accepted by AIG, the acceptance priority level and the "Total Consideration" per $1,000, £1,000 or €1,000 principal amount are as set forth in the table below. The Total Consideration includes an early participation amount of $50, £50 or €50 per $1,000, £1,000 or €1,000 principal amount, as applicable, to be paid to holders who validly tendered and did not validly withdraw their notes and debentures at or prior to 5:00 p.m., New York City time, on July 1, 2015 and whose securities have been accepted for purchase by AIG. Holders who validly tendered their notes or debentures after 5:00 p.m., New York City time, on July 1, 2015, and on or prior to the expiration date and whose securities have been accepted for purchase will receive only the applicable "Tender Offer Consideration," which is equal to the Total Consideration less the early participation amount. The payment date is expected to be on or about July 20, 2015. Holders whose notes and debentures are accepted in this tender offer will also receive a cash payment representing accrued interest from the most recent interest payment date to but excluding the payment date.
Loading...
Loading...
Market News and Data brought to you by Benzinga APIs
Posted In: NewsPress Releases
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...