XML 58 R24.htm IDEA: XBRL DOCUMENT v3.2.0.727
SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2015
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS

15. SUBSEQUENT EVENTS

Debt Repurchases

In July 2015, we repurchased, through cash tender offers, (i) approximately $142 million aggregate principal amount of certain senior notes issued by AIG for an aggregate purchase price of approximately $153 million, and (ii) approximately $3.3 billion of certain senior notes and junior subordinated notes issued or guaranteed by AIG for an aggregate purchase price of approximately $3.6 billion.

Debt Offerings

In July 2015, we issued $1.25 billion aggregate principal amount of 3.750% Notes due 2025, $500 million aggregate principal amount of 4.700% Notes due 2035 and $750 million aggregate principal amount of 4.800% Notes due 2045. In addition, in July 2015, we issued $290 million aggregate principal amount of 4.90% Callable Notes due 2045.

Dividends Declared and Increase in Share Repurchase Authorization

On August 3, 2015, our Board of Directors declared a cash dividend on AIG Common Stock of $0.28 per share, payable on September 28, 2015 to shareholders of record on September 14, 2015. The payment of any future dividends will be at the discretion of our Board of Directors and will depend on various factors, including the regulatory framework applicable to us.

On August 3, 2015, our Board of Directors authorized an additional increase to its previous repurchase authorization of AIG Common Stock of $5.0 billion, resulting in an aggregate remaining authorization on such date of approximately $6.3 billion.  Shares may be repurchased from time to time in the open market, private purchases, through forward, derivative, accelerated repurchase or automatic repurchase transactions or otherwise.  Certain of our share repurchases have been and may from time to time be effected through Exchange Act Rule 10b5-1 repurchase plans.  The timing of any future share repurchases will depend on market conditions, our financial condition, results of operations, liquidity and other factors. 

See Note 10 to the Condensed Consolidated Financial Statements.