AIG’s ¥100 Billion Offering

Cleary Gottlieb represented the underwriters in ¥100 billion aggregate principal amount of debt offerings by American International Group Inc. (AIG).

The offerings consisted of ¥77.1 billion of 1.58% notes due 2028, ¥10.3 billion of 1.757% notes due 2029, and ¥12.6 billion of 2.137% notes due 2034.

Cleary has represented the underwriters in numerous prior securities offerings by AIG, dating back to AIG’s re-IPO in 2011, and AIG’s carve-out of its life and retirement subsidiary, Corebridge Financial Inc.’s $1.7 billion IPO.

The notes offerings were led by SMBC Nikko, Mizuho Securities, and Morgan Stanley as joint bookrunning managers and representatives of the underwriters. In all, seven underwriters participated in the notes offerings, which priced on November 20, 2024 (Tokyo Time). The offerings will close on November 27, 2024.

AIG is a leading global insurance organization. AIG provides insurance solutions that help businesses and individuals in approximately 190 countries and jurisdictions protect their assets and manage risks through AIG operations and network partners.