AMERICAN INTERNATIONAL GROUP, INC. (NYSE:AIG) Files An 8-K Entry into a Material Definitive Agreement

Item1.01. Entry into a Material Definitive Agreement.

On June27, 2017, American International Group, Inc. (AIG) entered
into the Fourth Amended and Restated Credit Agreement (the Fourth
Amended Credit Agreement) among AIG, the subsidiary borrowers
party thereto, the lenders party thereto, JPMorgan Chase Bank,
N.A. (JPMorgan), as Administrative Agent, and each Several L/C
Agent party thereto, which amends and restates AIGs Third Amended
and Restated Credit Agreement, dated as of November5, 2015, among
AIG, the subsidiary borrowers party thereto, the lenders party
thereto, JPMorgan, as Administrative Agent, and each Several L/C
Agent party thereto.

The Fourth Amended Credit Agreement provides for a five-year
total commitment of $4.5billion, consisting of standby letters of
credit and/or revolving credit borrowings without any limits on
the type of borrowings. Under circumstances described in the
Fourth Amended Credit Agreement, the aggregate commitments may be
increased by up to $500million, for a total commitment under the
Fourth Amended Credit Agreement of $5.0billion. Under the Fourth
Amended Credit Agreement, the applicable rate, commitment fee and
letter of credit fee are determined by reference to the credit
ratings of AIGs senior unsecured long-term debt. Borrowings bear
interest at a rate per annum equal to the adjusted LIBO rate plus
an applicable rate or an alternative base rate plus an applicable
rate. The adjusted LIBO rate is equal to LIBOR and is subject to
adjustment for reserve requirements. The alternative base rate is
equal to the highest of (i)the rate of interest per annum
publicly announced from time to time by JPMorgan as its prime
rate; (ii)the federal funds rate plus 0.50%; and (iii)the
adjusted LIBO rate plus 1.00%.

The Fourth Amended Credit Agreement requires AIG to maintain a
minimum consolidated net worth and subjects AIG to a specified
limit on total consolidated debt to total consolidated
capitalization, subject to certain limitations and exceptions. In
addition, the Fourth Amended Credit Agreement contains certain
customary affirmative and negative covenants, including
limitations with respect to the incurrence of certain types of
liens, transactions with affiliates, and certain fundamental
changes. Amounts due under the Fourth Amended Credit Agreement
may be accelerated upon an event of default, as defined in the
Fourth Amended Credit Agreement, such as failure to pay amounts
owed thereunder when due, breach of a covenant, material
inaccuracy of a representation, or occurrence of bankruptcy or
insolvency, subject in some cases to cure periods.

AIG expects that it may draw on the Fourth Amended Credit
Agreement from time to time, and may use the proceeds for general
corporate purposes. Letters of credit issued under the Fourth
Amended Credit Agreement will be used to support reinsurance
operations of AIGs insurance subsidiaries and for general
corporate purposes. As of June27, 2017, there are no borrowings
or letters of credit outstanding under the Fourth Amended Credit
Agreement, so that a total of approximately $4.5billion remains
available under the Fourth Amended Credit Agreement.

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The foregoing description of the Fourth Amended Credit Agreement
is qualified in its entirety by reference to the Fourth Amended
Credit Agreement, which is filed as Exhibit 10.1 to this Form 8-K
and is incorporated herein by reference.

Section2 Financial Information

Item2.03. Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a
Registrant.

The information set forth in Item1.01 is incorporated herein by
reference.

Section9 Financial Statements and Exhibits

Item9.01. Financial Statements and Exhibits.

(d) Exhibits.

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AMERICAN INTERNATIONAL GROUP INC Exhibit
EX-10.1 2 d407170dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 EXECUTION VERSION       FOURTH AMENDED AND RESTATED CREDIT AGREEMENT dated as of June 27,…
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About AMERICAN INTERNATIONAL GROUP, INC. (NYSE:AIG)

American International Group, Inc. (AIG) is an insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services to customers in over 100 countries and jurisdictions. The Company operates through two segments: Commercial Insurance and Consumer Insurance, as well as a Corporate and Other category. Commercial Insurance has three operating segments: Property Casualty, Mortgage Guaranty and Institutional Markets. Commercial Insurance segment is a provider of insurance products and services for commercial and institutional customers. Consumer Insurance also has three operating segments: Retirement, Life and Personal Insurance. Consumer Insurance is a franchise that offers a portfolio of retirement, life insurance and property casualty products through multiple distribution networks. Corporate and Other includes the Company, as well as certain legacy assets and run-off insurance businesses.