SUBSEQUENT EVENTS	3 Months Ended
Mar. 31, 2022
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	16. Subsequent Events Dividends Declared On May 3, 2022, our Board of Directors declared a cash dividend on AIG Common Stock of $0.32 per share, payable on June 30, 2022 to shareholders of record on June 16, 2022. On May 3, 2022, our Board of Directors declared a cash dividend on AIG’s Series A Preferred Stock of $365.625 per share, payable on June 15, 2022 to holders of record on May 31, 2022. REPURCHASE OF COMMON STOCK Pursuant to an Exchange Act Rule 10b5-1 repurchase plan that expires on May 20, 2022 (the Current 10b5-1 Plan), from April 1, 2022 to April 29, 2022, we repurchased approximately 10 million shares of AIG Common Stock for an aggregate purchase price of approximately $598 million. On May 3, 2022, the Board of Directors authorized the repurchase of $6.5 billion of AIG Common Stock (inclusive of the approximately $1.5 billion of expected remaining authorization upon expiration of the Current 10b5-1 Plan as of May 20, 2022). DEBT CASH TENDER OFFERS In April 2022, AIG repurchased, through cash tender offers, approximately $6.8 billion aggregate principal amount of certain notes and debentures issued or guaranteed by AIG, and announced that it will redeem €750 million aggregate principal amount of its 1.500% Notes due 2023 on May 10, 2022. COREBRIDGE On February 25, 2022, Corebridge entered into an 18-Month Delayed Draw Term Loan Agreement (the 18-Month DDTL Facility) among Corebridge, as borrower, the lenders party thereto and the administrative agent thereto, and a 3-Year Delayed Draw Term Loan Agreement (the 3-Year DDTL Facility) among Corebridge, as borrower, the lenders party thereto and the administrative agent thereto. The 18-Month DDTL Facility and 3-Year DDTL Facility provided Corebridge with committed delayed draw term loan facilities in the aggregate principal amount of $6 billion and $3 billion, respectively. On April 5, 2022, Corebridge issued and sold senior unsecured notes in the aggregate principal amount of $6.5 billion consisting of: $1,000,000,000 aggregate principal amount of its 3.500% Senior Notes due 2025, $1,250,000,000 aggregate principal amount of its 3.650% Senior Notes due 2027, $1,000,000,000 aggregate principal amount of its 3.850% Senior Notes due 2029, $1,500,000,000 aggregate principal amount of its 3.900% Senior Notes due 2032, $500,000,000 aggregate principal amount of its 4.350% Senior Notes due 2042 and $1,250,000,000 aggregate principal amount of its 4.400% Senior Notes due 2052. Corebridge used the net proceeds of the issuance of the notes, in the amount of approximately $6.5 billion, to repay a portion of the $8.3 billion promissory note previously issued by Corebridge to AIG. On April 6, 2022, in connection with the issuance of the senior unsecured notes of Corebridge, (i) the commitments under the 18-Month DDTL Facility were terminated in full and (ii) the commitments under the 3-Year DDTL Facility were reduced from $3.0 billion to $2.5 billion. The ability to borrow under the 3-Year DDTL Facility is subject to, among other conditions, Corebridge’s confirmation to the administrative agent that an initial public offering of Corebridge is expected to be consummated within five business days following such borrowing. Commitments under the 3-Year DDTL Facility will remain available for borrowing until December 30, 2022, subject to the terms and conditions thereof. As of May 3, 2022, a total of $2.5 billion remained available under the 3-Year DDTL Facility.

SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2022

16. Subsequent Events

Dividends Declared

On May 3, 2022, our Board of Directors declared a cash dividend on AIG Common Stock of $0.32 per share, payable on June 30, 2022 to shareholders of record on June 16, 2022. On May 3, 2022, our Board of Directors declared a cash dividend on AIG’s Series A Preferred Stock of $365.625 per share, payable on June 15, 2022 to holders of record on May 31, 2022.

REPURCHASE OF COMMON STOCK

Pursuant to an Exchange Act Rule 10b5-1 repurchase plan that expires on May 20, 2022 (the Current 10b5-1 Plan), from April 1, 2022 to April 29, 2022, we repurchased approximately 10 million shares of AIG Common Stock for an aggregate purchase price of approximately $598 million. On May 3, 2022, the Board of Directors authorized the repurchase of $6.5 billion of AIG Common Stock (inclusive of the approximately $1.5 billion of expected remaining authorization upon expiration of the Current 10b5-1 Plan as of May 20, 2022).

DEBT CASH TENDER OFFERS

In April 2022, AIG repurchased, through cash tender offers, approximately $6.8 billion aggregate principal amount of certain notes and debentures issued or guaranteed by AIG, and announced that it will redeem €750 million aggregate principal amount of its 1.500% Notes due 2023 on May 10, 2022.

COREBRIDGE

On February 25, 2022, Corebridge entered into an 18-Month Delayed Draw Term Loan Agreement (the 18-Month DDTL Facility) among Corebridge, as borrower, the lenders party thereto and the administrative agent thereto, and a 3-Year Delayed Draw Term Loan Agreement (the 3-Year DDTL Facility) among Corebridge, as borrower, the lenders party thereto and the administrative agent thereto.

The 18-Month DDTL Facility and 3-Year DDTL Facility provided Corebridge with committed delayed draw term loan facilities in the aggregate principal amount of $6 billion and $3 billion, respectively. On April 5, 2022, Corebridge issued and sold senior unsecured notes in the aggregate principal amount of $6.5 billion consisting of: $1,000,000,000 aggregate principal amount of its 3.500% Senior Notes due 2025, $1,250,000,000 aggregate principal amount of its 3.650% Senior Notes due 2027, $1,000,000,000 aggregate principal amount of its 3.850% Senior Notes due 2029, $1,500,000,000 aggregate principal amount of its 3.900% Senior Notes due 2032, $500,000,000 aggregate principal amount of its 4.350% Senior Notes due 2042 and $1,250,000,000 aggregate principal amount of its 4.400% Senior Notes due 2052. Corebridge used the net proceeds of the issuance of the notes, in the amount of approximately $6.5 billion, to repay a portion of the $8.3 billion promissory note previously issued by Corebridge to AIG.

On April 6, 2022, in connection with the issuance of the senior unsecured notes of Corebridge, (i) the commitments under the 18-Month DDTL Facility were terminated in full and (ii) the commitments under the 3-Year DDTL Facility were reduced from $3.0 billion to $2.5 billion. The ability to borrow under the 3-Year DDTL Facility is subject to, among other conditions, Corebridge’s confirmation to the administrative agent that an initial public offering of Corebridge is expected to be consummated within five business days following such borrowing. Commitments under the 3-Year DDTL Facility will remain available for borrowing until December 30, 2022, subject to the terms and conditions thereof.

As of May 3, 2022, a total of $2.5 billion remained available under the 3-Year DDTL Facility.