By Andrea Heisinger
New York, Aug. 13 - American International Group, Inc. priced $3.25 billion 8.25% 10-year notes Wednesday to yield Treasuries plus 432.8 basis points, a market source said.
The non-callable Rule 144A notes (Aa3/AA-/AA-) priced at par to yield 8.25%.
Guidance on the issue was for a yield in the 8.25% area, a source said.
Bookrunners were Credit Suisse Securities and Morgan Stanley & Co., Inc.
The financial and insurance company is based in New York City.
| Issuer: | American International Group, Inc.
|
| Issue: | Notes
|
| Amount: | $3.25 billion
|
| Maturity: | Aug. 15, 2018
|
| Bookrunners: | Credit Suisse Securities and Morgan Stanley & Co., Inc.
|
| Coupon: | 8.25%
|
| Price: | Par
|
| Yield: | 8.25%
|
| Spread: | 432.8 bps
|
| Call: | Non-callable
|
| Trade date: | Aug. 13
|
| Settlement date: | Aug. 18
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
| Distribution: | Rule 144A
|
| Price talk: | 8.25% area
|
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