DEBT

12 Months Ended

Dec. 31, 2016

15. Debt

Our long-term debt is denominated in various currencies, with both fixed and variable interest rates. Long-term debt is carried at the principal amount borrowed, including unamortized discounts, hedge accounting valuation adjustments and fair value adjustments, when applicable. The interest rates presented in the following table reflect the range of contractual rates in effect at December 31, 2016, including fixed and variable rate issuances.

The following table lists our total debt outstanding at December 31, 2016 and 2015. The interest rates presented in the following table are the range of contractual rates in effect at December 31, 2016, including fixed and variable-rates:

				Balance at		Balance at
At December 31, 2016	Range of	Maturity		December 31,		December 31,
(in millions)	Interest Rate(s)	Date(s)			2016		2015
Debt issued or guaranteed by AIG:
AIG general borrowings:
Notes and bonds payable	0.99% - 8.13%		2017 - 2097	$	19,432	$	17,047
Junior subordinated debt	4.88% - 8.63%		2037 - 2058		843		1,327
AIG Japan Holdings Kabushiki Kaisha	0.28% - 0.44%		2020 - 2021		330		106
AIGLH notes and bonds payable	6.63% - 7.5%		2025 - 2029		281		284
AIGLH junior subordinated debt	7.57% - 8.5%		2030 - 2046		361		420
Total AIG general borrowings					21,247		19,184
AIG borrowings supported by assets:^(a)
MIP notes payable	2.28% - 8.59%		2017 - 2018		1,099		1,372
Series AIGFP matched notes and bonds payable	0.94% - 7.50%		2017 - 2047		32		34
GIAs, at fair value	0.50% - 7.62%		2017 - 2047		2,934		3,276
Notes and bonds payable, at fair value	0.51% - 10.37%		2017 - 2047		494		394
Total AIG borrowings supported by assets					4,559		5,076
Total debt issued or guaranteed by AIG					25,806		24,260
Debt not guaranteed by AIG:
Other subsidiaries notes, bonds, loans and
mortgages payable	0.73% - 1.15%		2017		735		2
Debt of consolidated investments^(b)	0% - 9.31%		2017 - 2062		4,371		4,987
Total debt not guaranteed by AIG					5,106		4,989
Total long term debt^(c)				$	30,912	$	29,249

(a) AIG Parent guarantees all such debt, except for MIP notes payable and Series AIGFP matched notes and bonds payable, which are direct obligations of AIG Parent. Collateral posted to third parties was $2.2 billion and $2.4 billion at December 31, 2016 and December 31, 2015, respectively. This collateral primarily consists of securities of the U.S. government and government sponsored entities and generally cannot be repledged or resold by the counterparties.

(b) At December 31, 2016, includes debt of consolidated investment vehicles related to real estate investments of $1.9 billion, affordable housing partnership investments of $1.7 billion and other securitization vehicles of $771 million. At December 31, 2015, includes debt of consolidated investment vehicles related to real estate investments of $2.4 billion, affordable housing partnership investments of $1.5 billion and other securitization vehicles of $1.0 billion.

The following table presents maturities of long-term debt (including unamortized original issue discount, hedge accounting valuation adjustments and fair value adjustments, when applicable), excluding $4.4 billion in borrowings of debt of consolidated investments:

December 31, 2016			Year Ending
(in millions)		Total		2017		2018		2019		2020		2021		Thereafter
Debt issued or guaranteed by AIG:
AIG general borrowings:
Notes and bonds payable	$	19,432	$	167	$	1,106	$	997	$	1,342	$	1,494	$	14,326
Junior subordinated debt		843		-		-		-		-		-		843
AIG Japan Holdings Kabushiki Kaisha		330		-		-		-		114		216		-
AIGLH notes and bonds payable		281		-		-		-		-		-		281
AIGLH junior subordinated debt		361		-		-		-		-		-		361
Total AIG general borrowings		21,247		167		1,106		997		1,456		1,710		15,811
AIG borrowings supported by assets:
MIP notes payable		1,099		751		348		-		-		-		-
Series AIGFP matched notes and
bonds payable		32		10		-		-		-		-		22
GIAs, at fair value		2,934		187		486		98		32		242		1,889
Notes and bonds payable, at fair value		494		311		116		-		-		-		67
Total AIG borrowings supported by assets		4,559		1,259		950		98		32		242		1,978
Total debt issued or guaranteed by AIG		25,806		1,426		2,056		1,095		1,488		1,952		17,789
Other subsidiaries notes, bonds, loans
and mortgages payable		735		735		-		-		-		-		-
Total	$	26,541	$	2,161	$	2,056	$	1,095	$	1,488	$	1,952	$	17,789

Uncollateralized and collateralized notes, bonds, loans and mortgages payable consisted of the following:

		Uncollateralized		Collateralized
At December 31, 2016		Notes/Bonds/Loans		Loans and
(in millions)		Payable		Mortgages Payable		Total
AIG general borrowings	$	330	$	-	$	330
Other subsidiaries notes, bonds, loans and mortgages payable^*		-		735		735
Total	$	330	$	735	$	1,065

* AIG does not guarantee any of these borrowings.

AIGLH Junior Subordinated Debentures (Formerly, Liabilities Connected To Trust Preferred Stock)

In connection with our acquisition of AIG Life Holdings, Inc. (AIGLH) in 2001, we entered into arrangements with AIGLH with respect to outstanding AIGLH capital securities. In 1996, AIGLH issued capital securities through a trust to institutional investors and funded the trust with AIGLH junior subordinated debentures issued to the trust with the same terms as the capital securities.

On July 11, 2013, the AIGLH junior subordinated debentures were distributed to holders of the capital securities, the capital securities were cancelled and the trusts were dissolved. At December 31, 2016, the junior subordinated debentures outstanding consisted of $113 million of 8.5 percent junior subordinated debentures due July 2030, $211 million of 8.125 percent junior subordinated debentures due March 2046 and $37 million of 7.57 percent junior subordinated debentures due December 2045, each guaranteed by AIG Parent.

Credit Facilities

We maintain a committed, revolving syndicated credit facility (the Facility) as a potential source of liquidity for general corporate purposes. The Facility provides for aggregate commitments by the bank syndicate to provide unsecured revolving loans and/or standby letters of credit of up to $4.5 billion without any limits on the type of borrowings and is scheduled to expire in November 2020.

At December 31, 2016				Available		Effective
(in millions)		Size		Amount	Expiration	Date
Syndicated Credit Facility	$	4,500	$	4,500	November 2020	11/5/2015