Corebridge’s $600 Million Offering

Cleary Gottlieb is representing the underwriters in Corebridge Financial Inc.’s (Corebridge) offering of $600 million principal amount of 6.375% junior subordinated notes due 2064.

Corebridge is the former life and retirement subsidiary of American International Group Inc. (AIG).

The offering was led by Wells Fargo Securities LLC, BofA Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, and RBC Capital Markets LLC, as joint bookrunning managers and representatives of the underwriters. In all, 10 underwriters participated in the notes offering, which priced on November 19, 2024. The notes offering is expected to close on November 22, 2024, subject to customary closing conditions.

Cleary has represented the underwriters in numerous prior securities offerings by AIG and by Corebridge, including Corebridge’s IPO in 2022. Most recently, Cleary represented:

• the underwriters in Corebridge’s hybrid notes offering that raised $750 million in September 2024;
• the underwriters in Corebridge’s senior notes offering that raised $750 million in December 2023;
• the underwriters in the $876 million secondary public offering by AIG of shares of Corebridge common stock in May 2024, $718 million in December 2023, $1 billion in November 2023, and $1.1 billion in June 2023; and
• the initial purchasers in Corebridge’s senior notes offering that raised $500 million in September 2023.