American International Group, Inc. (NYSE: AIG) has a number of 11 to acquire AIG debt and its subsidiaries today. The full terms of the offer are set forth in the Offer to Purchase and the Letter of Transmittal dated daily. The values that are accepted in the Offer will be purchased by AIG and withdrew and canceled by the respective issuers. Abundance of the offer is subject to a number of conditions, including the lack of legal developments and negative market and financing conditions (as described in the tender offer). Under current law, AIG may waive any of these conditions or extend, terminate or modify the offer to purchase.
AIG provides notes and bonds in the following Table I in the amount of total capital (US dollar equivalent) of up to $ 1.0 billion to acquire listed. The start date of the interest of the service is at 17:00, New York, March 7, 2016 (the "Early Tender Date") and the expiration date of the offer at 23:59 local time New York city, March 21, 2016 (in each case subject to extension) , I, the price for each series of Notes and be on solid margins based As shown in Table certain criteria, as described below. is the price of the bonds and debentures in US-denominated purchased and sterling-dollar calculated on the performance of the relevant call or maturity value based appropriate reference is given at 10:00 in Table I, new city York time, on bonds and debentures stated in US dollars or 15:00 London time for the notes in pounds sterling per working day following the participation early plus the fixed spread for such notes or obligations, as in Table I. price for the notes in euros, on the basis rate is payable calculated at a swap reference to 15:00 London time, described the business day following the date of early involvement and the fixed margin for such obligations as offer more detail. Noteholders and obligations under the tender offer will be accepted, also be a cash payment representing accrued interest from the last interest payment date will receive up to, but not including, the date of AIG buys tickets and bonds. The payment date of the offer will be immediately after its expiration and should be about March 23, 2016.
Below is a brief summary of certain key elements of the sale offer:
Holders who effectively offered and not effectively revoked their bonds or bonds or before 17:00, New York March 7, 2016 (subject to extension), the Early Participation Date, and the securities to buy, you will be the total purchase price plus accrued to receive interest.
Owner, the valid or bonds after 17:00 submit their bonds, New York time on the early tender date, but to buy be accepted on or before the expiration date and whose securities for eligible public offering, which corresponds to the sum less than the expected amount, (as defined in the offer), and the participation of the accrued interest.
Offers Remarks or Notes may be withdrawn at any time valid before 17:00 or New York March 7, 2016 (subject to extension), but not thereafter.
AIG reserves the right, but not the obligation, the maximum amount of notes and debentures to increase sought in the offer. In the event of such increase, AIG is not required (except required by applicable law) to extend the date of early involvement, the withdrawal date or the expiration date.
If the tender offer is oversubscribed, AIG agreed all securities valid in accordance with the acceptance priority levels to pay inscribed listed in Table I, if sufficient resources are available to buy some, but not accepted all, debentures or other to a priority level commitments agreed AIG such bonds or bonds payable deposited on a proportional basis.
The offer is subject to conditions, including a financing condition, stating that the tender offer is conditioned by AIG that in one or more capital market financing will be exhibited and sold in satisfactory conditions, which could reasonably AIG, negotiable instruments that in less net profit equal to a portion of the material supply in its reasonable discretion of AIG, the total amount of capital notes and bonds declined the offer.
This press release is qualified in its entirety by the Offer to Purchase and the Letter of Transmittal.
AIG, Credit Suisse Securities (Europe) Limited, Credit Suisse Securities (USA) LLC and Wells Fargo (News - Alert) maintained Securities, LLC as a reseller of Joint Lead Manager. Global Bondholder Services Corporation, the Information Agent and Depositary. For more information about the terms of the offer please call at: Credit Suisse Securities (Europe) Limited under +44 (0) 207 888 5564; Credit Suisse Securities (USA) LLC at (800) 820-1653 (toll free) or (212) 538-2147 (collect); or Wells Fargo Securities, LLC at (866) 309-6316 (toll free) or (704) 410-4760 (collect). Requests for documents and questions regarding the tender of securities may be deposited (212) 430-3774 (for banks and brokers only), (866) 924-2200 (for all Global Bond Holder Services Corporation be directed by phone freely, other tolls) or +001 (212) 430-3774 (international), by e-mail to aig@gbsc-usa.com or sets lead managers dealers in their phone numbers.
This press release does not constitute an offer or an invitation by AIG form in the tender offer in any jurisdiction to participate, if it is unlawful an offer or solicitation of such jurisdiction.
Certain statements in this press release, including those describing the completion of the public offering, are forward-looking statements. These statements are not historical facts but represent only AIG belief regarding future events, many of which are by nature, are inherently uncertain and outside AIG control. It is possible that the actual results may differ, possibly specified materially from those anticipated in these statements. Factors that actual results may differ materially from these forward-looking statements in the periodic filings of AIG discussed with the SEC (News - Alert) could cause under the Securities Act 1934th
American International Group, Inc. (AIG) is a global insurance organization performs. Founded in 1919, today we offer a wide range of insured claims, life insurance, pension products, mortgage insurance and other financial services to customers in more than 100 countries and jurisdictions. We offer various products and services that help businesses and individuals protect their assets, manage risk and ensure retirement security. AIG's shares are listed on the New York Stock Exchange and the Tokyo Stock Exchange.
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