By Aleesia Forni
Virginia Beach, Va., Aug. 6 - American International Group Inc. sold $1 billion of 3.375% seven-year senior notes (Baa1/A-/) on Tuesday at 135 basis points over Treasuries, according to a FWP filing with the Securities and Exchange Commission.
The notes priced at 99.975 to yield 3.379%.
The notes were talked at 137.5 bps over Treasuries.
Citigroup Global Markets Inc., HSBC Securities (USA) Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC are the joint bookrunners.
The company plans to use the proceeds from the offering for general corporate purposes, including the repayment of debt.
AIG was last in the market in August 2012 selling $250 million of 2.375% three-year subordinated notes to yield Treasuries plus 200 bps.
The insurance company is based in New York City.
| Issuer: | American International Group Inc.
|
| Issue: | Senior unsecured notes
|
| Amount: | $1 billion
|
| Maturity: | Aug. 15, 2020
|
| Bookrunners: | Citigroup Global Markets Inc., HSBC Securities (USA) Inc., U.S. Bancorp Investments Inc., Wells Fargo Securities LLC
|
| Co-managers: | Mizuho Securities USA Inc., SMBC Nikko Securities America, Inc., Standard Chartered Bank
|
| Junior co-managers: | CastleOak Securities LP, ING Financial Markets LLC, Mischler Financial Group Inc., Muriel Siebert Co. Inc., PNC Capital Markets LLC, Samuel A. Ramirez & Co. Inc.
|
| Coupon: | 3.375%
|
| Price: | 99.975
|
| Yield: | 3.379%
|
| Spread: | Treasuries plus 135 bps
|
| Make-whole call: | Treasuries plus 25 bps
|
| Trade date: | Aug. 6
|
| Settlement date: | Aug. 9
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: A-
|
| Distribution: | SEC registered
|
| Price talk: | 137.5 bps over Treasuries
|
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