AIG 8-K
American International Group, Inc. (AIG)
8-K
2025-06-09
For: 2025-06-06
View Original
Added on
April 08, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 9, 2025 (June 6, 2025 )
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
(Address of principal executive offices)
Registrant’s telephone number, including area code: (212) 770-7000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Section 8 – Other Events
Item 8.01. Other Events.
Pricing for Cash Tender Offer
On June 6, 2025, American International Group, Inc. (“AIG”) issued a press release announcing the pricing terms of the previously announced cash tender offers (the “Offers”) to purchase certain of its outstanding notes. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated into this Item 8.01 by reference.
Results and Upsizing of Cash Tender Offer
On June 9, 2025, AIG issued a press release announcing the results as of the expiration date and upsizing of the Offers. A copy of the press release is attached as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated into this Item 8.01 by reference.
The information contained in this Current Report on Form 8-K does not constitute an offer to purchase the notes. The terms of the Offers are described in the Offer to Purchase, dated June 2, 2025, as amended by AIG’s press release dated June 9, 2025, announcing the results and upsizing of the Offers.
Section 9 - Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits.
| (d) | Exhibits. | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
EXHIBIT INDEX
| Exhibit No. | Description | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
AMERICAN INTERNATIONAL GROUP, INC. (Registrant) | |||||||||||
| Date: June 9, 2025 | By: | /s/ Christina Banthin | |||||||||
| Name: | Christina Banthin | ||||||||||
| Title: | Senior Vice President and Corporate Secretary | ||||||||||
| Press Release | Contacts: | ||||
| www.aig.com | Quentin McMillan (Investors): [email protected] | ||||
Claire Talcott (Media): [email protected] | |||||
AIG Announces Reference Yields and Total Consideration for its Tender Offers for Certain Outstanding Notes
NEW YORK – June 6, 2025 – American International Group, Inc. (NYSE: AIG) today announced the pricing terms for each series of the Notes included in its previously announced tender offers (the “Offers”) to purchase outstanding notes of the series listed in the table below (collectively, the “Notes”) for cash up to a maximum $300 million aggregate amount of Total Consideration (as defined below), excluding the Accrued Coupon Payment (as defined below). The Offers are being made pursuant to AIG’s Offer to Purchase, dated June 2, 2025 (the “Offer to Purchase”), which sets forth a more comprehensive description of the terms and conditions of each Offer, and the accompanying notice of guaranteed delivery (the “Notice of Guaranteed Delivery” and, together with the Offer to Purchase, the “Tender Offer Documents”). Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase.
Set forth below are the applicable Reference Yields and Total Consideration for each series of Notes, as calculated at 10:00 a.m. today, June 6, 2025, in accordance with the Offer to Purchase.
Acceptance Priority Level(1) | Title of Security | CUSIP/ISIN | First Par Call Date(2) | Maturity Date | Principal Amount Outstanding (millions) | Reference Security(3) | Reference Security Yield | Fixed Spread (basis points)(3) | Bloomberg Reference Page | Total Consideration (2)(3) | ||||||||||||||||||||||
1 | 5.750% Series A-9 Junior Subordinated Debentures Due 2048(4) | 026874DM6 / US026874DM66 | April 1, 2028 | April 1, 2048 | $439.0 | 3.750% UST due 05/15/2028 | 4.003% | 140 bps | FIT1 | $1,008.84 | ||||||||||||||||||||||
2 | 8.175% Series A-6 Junior Subordinated Debentures Due 2058(4) | 026874BS5 / US026874BS54 | May 15, 2038 | May 15, 2058 | $146.9 | 4.250% UST due 05/15/2035 | 4.474% | 210 bps | FIT1 | $1,137.94 | ||||||||||||||||||||||
3 | 6.820% Notes Due 2037 | 026874CW5 / US026874CW57 | N/A | November 15, 2037 | $78.4 | 4.250% UST due 05/15/2035 | 4.474% | 90 bps | FIT1 | $1,129.84 | ||||||||||||||||||||||
4 | 6.250% Notes Due 2036 | 026874AZ0 / US026874AZ07 | N/A | May 1, 2036 | $285.2 | 4.250% UST due 05/15/2035 | 4.474% | 85 bps | FIT1 | $1,075.72 | ||||||||||||||||||||||
5 | 6.250% Series A-1 Junior Subordinated Debentures Due 2037 | 026874BE6 / US026874BE68 | N/A | March 15, 2037 | $20.9 | 4.250% UST due 05/15/2035 | 4.474% | 200 bps | FIT1 | $981.63 | ||||||||||||||||||||||
6 | 4.800% Notes Due 2045 | 026874DF1 / US026874DF16 | January 10, 2045 | July 10, 2045 | $436.8 | 5.000% UST due 05/15/2045 | 4.962% | 70 bps | FIT1 | $897.32 | ||||||||||||||||||||||
7 | 4.250% Notes Due 2029 | 026874DN4 / US026874DN40 | December 15, 2028 | March 15, 2029 | $191.8 | 4.000% UST due 05/31/2030 | 4.093% | 60 bps | FIT1 | $984.82 | ||||||||||||||||||||||
8 | 4.200% Notes Due 2028 | 026874DK0 / US026874DK01 | January 1, 2028 | April 1, 2028 | $341.0 | 3.750% UST due 05/15/2028 | 4.003% | 40 bps | FIT1 | $994.64 | ||||||||||||||||||||||
9 | 4.700% Notes Due 2035 | 026874DE4 / US026874DE41 | January 10, 2035 | July 10, 2035 | $164.0 | 4.250% UST due 05/15/2035 | 4.474% | 80 bps | FIT1 | $955.51 | ||||||||||||||||||||||
10 | 4.375% Notes Due 2055 | 026874DB0 / US026874DB02 | July 15, 2054 | January 15, 2055 | $188.7 | 4.625% UST due 02/15/2055 | 4.945% | 135 bps | FIT1 | $743.65 | ||||||||||||||||||||||
(1) Subject to the satisfaction or waiver of the conditions of the Offers described in the Offer to Purchase, if the Maximum Purchase Condition is not satisfied with respect to every series of Notes, AIG will accept Notes for purchase in the order of their respective Acceptance Priority Level specified in the table above (with 1 being the highest Acceptance Priority Level and 10 being the lowest Acceptance Priority Level). It is possible that a series of Notes with a particular Acceptance Priority Level will not be accepted for purchase even if one or more series with a higher or lower Acceptance Priority Level are accepted for purchase.
(2) For each series of Notes in respect of which a par call date is indicated, the calculation of the applicable Total Consideration was performed to either the maturity date or such par call date, in accordance with standard market convention. See Annex A to the Offer to Purchase for an overview of the calculation of the Total Consideration (including the par call detail) with respect to the Notes.
(3) The Total Consideration for each series of Notes (such consideration, the “Total Consideration”) payable per each $1,000 principal amount of such series of Notes validly tendered for purchase, has been calculated based on the fixed spread specified in the table above for such series of Notes, plus the yield of the specified Reference Security for that series as quoted on the Bloomberg reference page specified in the table above as of 10:00 a.m. (Eastern time). The Total Consideration does not include the applicable Accrued Coupon Payment, which will be payable in cash in addition to the applicable Total Consideration.
(4) For the avoidance of doubt, for purposes of calculating the applicable Total Consideration, it has been assumed that payments on the 5.750% Series A-9 Junior Subordinated Debentures Due 2048 and the 8.175% Series A-6 Junior Subordinated Debentures Due 2058 are made through the applicable par call date regardless of the Offer Yield, in accordance with standard market practice.
Each Offer will expire at 5:00 p.m. (Eastern time) on June 6, 2025, unless extended or earlier terminated (such date and time with respect to an Offer, as the same may be extended with respect to such Offer, the “Expiration Date”). Notes may be validly withdrawn at any time at or prior to 5:00 p.m. (Eastern time) on the Expiration Date but not thereafter, unless extended by AIG.
For Holders who deliver a Notice of Guaranteed Delivery and all other required documentation at or prior to the Expiration Date, upon the terms and subject to the conditions set forth in the Tender Offer Documents, the deadline to validly tender Notes using the Guaranteed Delivery Procedures will be the second business day after the Expiration Date and is expected to be 5:00 p.m. (Eastern time) on June 10, 2025 (the “Guaranteed Delivery Date”).
The “Initial Settlement Date” will be the second business day after the Expiration Date and is expected to be June 10, 2025. The “Guaranteed Delivery Settlement Date” will be the second business day after the Guaranteed Delivery Date and is expected to be June 12, 2025.
Upon the terms and subject to the conditions set forth in the Offer to Purchase, Holders whose Notes are accepted for purchase in the Offers will receive the applicable Total Consideration for each $1,000 principal amount of such Notes in cash on the Initial Settlement Date or Guaranteed Delivery Settlement Date, as applicable.
In addition to the applicable Total Consideration, Holders whose Notes are accepted for purchase will receive a cash payment equal to the accrued and unpaid interest on such Notes from and including the immediately preceding interest payment date for such Notes to, but excluding, the Initial Settlement Date (the “Accrued Coupon Payment”). Interest will cease to accrue on the Initial Settlement Date for all Notes accepted in the Offers and Holders whose Notes are tendered pursuant to the Guaranteed Delivery Procedures and are accepted for purchase will not receive payment in respect of any interest for the period from and including the Initial Settlement Date.
AIG has retained BNP Paribas Securities Corp., BofA Securities, Inc. and U.S. Bancorp Investments, Inc. as the Lead Dealer Managers. Global Bondholder Services Corporation is the Information Agent and Tender Agent. For additional information regarding the terms of the tender offer, please contact: BNP Paribas Securities Corp. at (888) 210-4358 (toll-free) or (212) 841-3059 (collect); BofA Securities, Inc. at (888) 292-0070 (toll-free) or (980) 387-3907 or U.S. Bancorp Investments, Inc. at (800) 479-3441 (toll-free) or (917) 558-2756 (collect). Requests for documents and questions regarding the tendering of Notes may be directed to Global Bondholder Services Corporation by telephone at (212) 430-3774 (for banks and brokers only) and (855) 654-2014 (for all others toll-free), by email at [email protected] or to the Lead Dealer Managers at their respective telephone numbers. Copies of the Offer to Purchase and the Notice of Guaranteed Delivery are available at https://www.gbsc-usa.com/AIG/.
The Offers are subject to the satisfaction of certain conditions. AIG may terminate or alter any or all of the Offers and is not obligated to accept for payment, purchase or pay for, and may delay the acceptance for payment of, any tendered Notes, in each event subject to applicable laws. The Offers are not conditioned on the tender of a minimum principal amount of Notes.
Beneficial owners of Notes are advised to check with any bank, securities broker or other intermediary through which they hold Notes as to when such intermediary would need to receive instructions from a beneficial owner in order for that beneficial owner to be able to participate in, or withdraw their instruction to participate in, an Offer before the deadlines specified in this press release. The deadlines set by any such intermediary and the Depository Trust Company for the submission and withdrawal of tender instructions may be earlier than the relevant deadlines specified in this press release.
This press release is neither an offer to purchase nor a solicitation of an offer to sell the Notes or any other securities. The Offers are made only by and pursuant to the terms of the Offer to Purchase and only to such persons and in such jurisdictions as is permitted under applicable law. The information in this press release is qualified by reference to the Offer to Purchase. None of AIG, the dealer managers or the tender and information
agent makes any recommendations as to whether Holders should tender their Notes pursuant to the Offers. Holders must make their own decisions as to whether to tender Notes, and, if so, the principal amount of Notes to tender.
# # #
Certain statements in this press release, including those describing the completion of the Offers, constitute forward-looking statements. These statements are not historical facts but instead represent only AIG’s belief regarding future events, many of which, by their nature, are inherently uncertain and outside AIG’s control. It is possible that actual results will differ, possibly materially, from the anticipated results indicated in these statements. Factors that could cause actual results to differ, possibly materially, from those in the forward-looking statements are discussed throughout AIG’s periodic filings with the SEC pursuant to the Securities Exchange Act of 1934.
# # #
About AIG
American International Group, Inc. (NYSE: AIG) is a leading global insurance organization. AIG provides insurance solutions that help businesses and individuals in more than 200 countries and jurisdictions protect their assets and manage risks through AIG operations, licenses and authorizations as well as network partners. For additional information, visit www.aig.com. This website with additional information about AIG has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide operations of American International Group, Inc. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
| Press Release | Contacts: | ||||
| www.aig.com | Quentin McMillan (Investors): [email protected] | ||||
Claire Talcott (Media): [email protected] | |||||
AIG Announces Results and Upsizing of Its Tender Offers for Certain Outstanding Notes
NEW YORK – June 9, 2025 – American International Group, Inc. (NYSE: AIG) today announced the results of its previously announced 10 separate offers (the “Offers”) to purchase for cash the notes of the series listed in the table below (collectively, the “Notes”) and that it has amended the Offers by increasing the applicable Maximum Purchase Consideration from $300 million to $455 million. The Offers were made pursuant to AIG’s Offer to Purchase, dated June 2, 2025 (the “Offer to Purchase”), which sets forth a more comprehensive description of the terms and conditions of each Offer, and the accompanying notice of guaranteed delivery (the “Notice of Guaranteed Delivery” and, together with the Offer to Purchase, the “Tender Offer Documents”). Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase.
The Offers expired at 5:00 p.m. (Eastern time) on June 6, 2025 (the “Expiration Date”). The Initial Settlement Date will be June 10, 2025 and the Guaranteed Delivery Settlement Date will be June 12, 2025.
According to information provided by Global Bondholder Services Corporation, the Information Agent and Tender Agent in connection with the Offers, $475,861,000 combined aggregate principal amount of the Notes were validly tendered prior to or at the Expiration Date and not validly withdrawn. In addition, $2,731,000 combined aggregate principal amount of Notes were tendered pursuant to the Guaranteed Delivery Procedures (as defined in the Offer to Purchase) and remain subject to the Holders’ performance of the delivery requirements under such procedures. The table below provides certain information about the Offers, including the aggregate principal amount of each series of Notes validly tendered and not validly withdrawn prior to the Expiration Date and the aggregate principal amount of Notes reflected in Notices of Guaranteed Delivery delivered at or prior to the Expiration Date pursuant to the Tender Offer Documents.
Acceptance Priority Level(1) | Title of Security | CUSIP/ISIN | Principal Amount Outstanding (millions) | Total Consideration(1) | Principal Amount Tendered(2) | Principal Amount Accepted(2) | Principal Amount Reflected in Notices of Guaranteed Delivery | ||||||||||||||||
1 | 5.750% Series A-9 Junior Subordinated Debentures Due 2048 | 026874DM6 / US026874DM66 | $439.0 | $1,008.84 | $121,147,000 | $121,147,000 | $2,668,000 | ||||||||||||||||
2 | 8.175% Series A-6 Junior Subordinated Debentures Due 2058 | 026874BS5 / US026874BS54 | $146.9 | $1,137.94 | $399,000 | $399,000 | — | ||||||||||||||||
3 | 6.820% Notes Due 2037 | 026874CW5 / US026874CW57 | $78.4 | $1,129.84 | $1,501,000 | $1,501,000 | — | ||||||||||||||||
4 | 6.250% Notes Due 2036 | 026874AZ0 / US026874AZ07 | $285.2 | $1,075.72 | $33,605,000 | $33,605,000 | — | ||||||||||||||||
1
5 | 6.250% Series A-1 Junior Subordinated Debentures Due 2037 | 026874BE6 / US026874BE68 | $20.9 | $981.63 | $606,000 | $606,000 | — | ||||||||||||||||
6 | 4.800% Notes Due 2045 | 026874DF1 / US026874DF16 | $436.8 | $897.32 | $107,596,000 | $107,596,000 | — | ||||||||||||||||
7 | 4.250% Notes Due 2029 | 026874DN4 / US026874DN40 | $191.8 | $984.82 | $52,048,000 | $52,048,000 | — | ||||||||||||||||
8 | 4.200% Notes Due 2028 | 026874DK0 / US026874DK01 | $341.0 | $994.64 | $140,238,000 | $140,238,000 | $5,000 | ||||||||||||||||
9 | 4.700% Notes Due 2035 | 026874DE4 / US026874DE41 | $164.0 | $955.51 | $17,262,000 | — | — | ||||||||||||||||
10 | 4.375% Notes Due 2055 | 026874DB0 / US026874DB02 | $188.7 | $743.65 | $1,459,000 | — | $58,000 | ||||||||||||||||
________
(1) The Total Consideration for each series of Notes (such consideration, the “Total Consideration”) payable per each $1,000 principal amount of such series of Notes validly tendered for purchase.
(2) The amounts exclude the principal amounts of Notes for which Holders have complied with certain procedures applicable to guaranteed delivery pursuant to the Guaranteed Delivery Procedures. Such amounts remain subject to the Guaranteed Delivery Procedures. Notes tendered pursuant to the Guaranteed Delivery Procedures are required to be tendered at or prior to 5:00 p.m., New York City time, on June 10, 2025.
Overall, $457,140,000 combined aggregate principal amount of Notes have been accepted for purchase (excluding Notes delivered pursuant to the Guaranteed Delivery Procedures). The Maximum Purchase Condition (after giving effect to the increase described above) has been satisfied with respect to the Offers in respect of the series of Notes with Acceptance Priority Levels of 1 – 8. Accordingly, all Notes of those series that have been validly tendered and not validly withdrawn at or prior to the Expiration Date have been accepted for purchase. AIG has not accepted any Notes with Acceptance Priority Levels 9 or 10 (as indicated in the table above) and will promptly return all validly tendered Notes of such series to the respective tendering Holders.
Upon the terms and subject to the conditions set forth in the Tender Offer Documents, Holders whose Notes have been accepted for purchase in the Offers will receive the applicable Total Consideration for each $1,000 principal amount of such Notes in cash on the Initial Settlement Date or Guaranteed Delivery Settlement Date. In addition to the applicable Total Consideration, Holders whose Notes are accepted for purchase will be paid the Accrued Coupon Payment. Interest will cease to accrue on the Initial Settlement Date for all Notes accepted in the Offers, including those tendered through the Guaranteed Delivery Procedures.
AIG has retained BNP Paribas Securities Corp., BofA Securities, Inc. and U.S. Bancorp Investments, Inc. as the Lead Dealer Managers. Global Bondholder Services Corporation is the Information Agent and Tender Agent. For additional information regarding the terms of the tender offer, please contact: BNP Paribas Securities Corp. at (888) 210-4358 (toll-free) or (212) 841-3059 (collect); BofA Securities, Inc. at (888) 292-0070 (toll-free) or (980) 387-3907 or U.S. Bancorp Investments, Inc. at (800) 479-3441 (toll-free) or (917) 558-2756 (collect). Requests for documents and questions regarding the tendering of Notes may be directed to Global Bondholder Services Corporation by telephone at (212) 430-3774 (for banks and brokers only) and (855) 654-2014 (for all others toll-free), by email at [email protected] or to the Lead Dealer Managers at their respective telephone numbers. Copies of the Offer to Purchase and the Notice of Guaranteed Delivery are available at https://www.gbsc-usa.com/AIG/.
2
This press release is neither an offer to purchase nor a solicitation of an offer to sell the Notes or any other securities. The Offers were made only by and pursuant to the terms of the Offer to Purchase and only to such persons and in such jurisdictions as is permitted under applicable law. The information in this press release is qualified by reference to the Offer to Purchase.
# # #
Certain statements in this press release, including those describing the completion of the Offers, constitute forward-looking statements. These statements are not historical facts but instead represent only AIG’s belief regarding future events, many of which, by their nature, are inherently uncertain and outside AIG’s control. It is possible that actual results will differ, possibly materially, from the anticipated results indicated in these statements. Factors that could cause actual results to differ, possibly materially, from those in the forward-looking statements are discussed throughout AIG’s periodic filings with the SEC pursuant to the Securities Exchange Act of 1934.
# # #
About AIG
American International Group, Inc. (NYSE: AIG) is a leading global insurance organization. AIG provides insurance solutions that help businesses and individuals in more than 200 countries and jurisdictions protect their assets and manage risks through AIG operations, licenses and authorizations as well as network partners. For additional information, visit www.aig.com. This website with additional information about AIG has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide operations of American International Group, Inc. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
3