AIG’s Corebridge borrows $1.5 billion under delayed-draw term loan

By Wendy Van Sickle

Columbus, Ohio, Sept. 19 – Corebridge Financial Inc., a majority-owned subsidiary of American International Group, Inc., borrowed $1.5 billion on Sept. 15 under its senior unsecured delayed-draw term loan agreement that matures on Feb. 25, 2025, according to an 8-K filing with the Securities and Exchange Commission.

Any commitments in excess of the amount borrowed were terminated.

JPMorgan Chase Bank, NA is the administrative agent.

The company used $900 million of proceeds to repay the remainder of the short-term intercompany note it owed to AIG, with the balance retained by the company as part of its liquidity pool.

AIG is a New York-based insurance and financial services company. Corebridge is the holding company for AIG’s life and retirement business.

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