AIG solicits consents for 8.125%, 7.05%, 7% and 5.6% notes

By Jennifer Chiou

New York, Nov. 30 - American International Group, Inc. announced the start of its consent solicitation for its 8.125% debentures due 2023, 7.05% notes due 2025, 7% notes due 2026 and 5.6% debentures due 2097.

The company is seeking consents for a proposed amendment to permit intercompany transfers of the voting stock of restricted subsidiaries to AIG and to any other restricted subsidiary that would remain wholly owned by AIG, directly or indirectly.

The transfers would also apply to any company that would become a restricted subsidiary of the company.

The solicitation will end at 5 p.m. ET on Dec. 12. The proposed amendment requires the consent of the holders representing a majority of the principal amount of the securities.

AIG is offering a consent fee of $2.50 for each $1,000 principal amount of securities.

The information and tabulation agent is Global Bondholder Services Corp. (866 470-3700). Goldman Sachs & Co. (800 828-3182) is the solicitation agent.

The Bank of New York Mellon Trust Co., NA is the trustee.

The insurance company is based in New York City.

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