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AIG’s Corebridge reduces delayed-draw term loan to $1.5 billion
Chicago, Aug. 23 – Corebridge Financial Inc., a majority-owned subsidiary of American International Group, Inc., reduced commitments under its three-year delayed-draw term loan agreement to $1.5 billion from $2.5 billion, according to a press release.
The loan agreement dates back to Feb. 25 and lists JPMorgan Chase Bank, NA as the administrative agent.
The reduction was in connection with a new offering of $1 billion fixed-to-fixed reset rate junior subordinated notes due 2052 that settled on Tuesday.
AIG is a New York-based insurance and financial services company. Corebridge is the holding company for AIG’s life and retirement business.
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