American International Group, Inc. (NYSE: AIG) announced today that it had entered into an amended and restated 4-Year $4 billion Bank Credit Facility.
The amended and restated facility replaces the previous $4.5 billion AIG facilities ($1.5 billion 364-Day and $3 billion 4-Year) entered into in October 2011 and includes a $2 billion letter of credit sublimit that will allow AIG subsidiaries to obtain letters of credit. This is an increase from the $1.5 billion letter of credit sublimit that existed in the previous 4-Year facility.
“The terms of this credit facility are more favorable and provide greater flexibility to AIG and our subsidiaries,” said David Herzog, AIG Executive Vice President and Chief Financial Officer. “We again saw significant interest in the facility among the lender group, and we are pleased with the continued confidence they have in the strength of AIG and our future.”
Thirty-four banks participated in the facility, with J.P. Morgan Securities LLC and Citigroup Global Markets Inc. acting as lead arrangers.American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries. 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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV