By Andrea Heisinger
New York, May 21 - American International Group, Inc. sold $750 million of 4.875% 10-year senior notes on Monday at a spread of 325 basis points over Treasuries, an informed source said.
The bonds were priced at the tight end of guidance in the low 300 bps area, the source said.
The notes (Baa1/A-/BBB) were sold at 99.077 to yield 4.993%.
Barclays Capital Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc. and RBC Capital Markets LLC were the bookrunners.
Proceeds will be used for general corporate purposes, including repayment of debt maturing in 2013.
AIG was last in the market with a $2 billion offering of notes due 2015 and 2017 on March 19.
The insurance company is based in New York City.
| Issuer: | American International Group, Inc.
|
| Issue: | Senior notes
|
| Amount: | $750 million
|
| Maturity: | June 1, 2022
|
| Bookrunners: | Barclays Capital Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., RBC Capital Markets LLC
|
| Coupon: | 4.875%
|
| Price: | 99.077
|
| Yield: | 4.993%
|
| Spread: | Treasuries plus 325 bps
|
| Trade date: | May 21
|
| Settlement date: | May 24
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: A-
|
| Fitch: BBB
|
| Price talk: | Low 300 bps area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
