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DEBT
 12 Months Ended
Dec. 31, 2018
DEBT  
DEBT

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 following table lists our total debt outstanding at December 31, 2018 and 2017. The interest rates presented in the following table are the range of contractual rates in effect at December 31, 2018, including fixed and variable-rates:

Balance atBalance at
At December 31, 2018Range ofMaturityDecember 31,December 31,
(in millions)Interest Rate(s)Date(s)20182017
Debt issued or guaranteed by AIG:
AIG general borrowings:
Notes and bonds payable0% - 8.13%2019 - 2097$20,853$20,339
Junior subordinated debt4.88% - 8.63%2037 - 20581,548841
AIG Japan Holdings Kabushiki Kaisha0.28% - 0.44%2020 - 2021331334
Validus notes and bonds payable8.88%2040359-
AIGLH notes and bonds payable6.63% - 7.50%2025 - 2029282281
AIGLH junior subordinated debt7.57% - 8.50%2030 - 2046361361
Total AIG general borrowings23,73422,156
AIG borrowings supported by assets:(a)
MIP notes payable-356
Series AIGFP matched notes and bonds payable2.69% - 2.75%2046 - 20472121
GIAs, at fair value0.5% - 7.62%2019 - 2053 2,164 2,707
Notes and bonds payable, at fair value0.5% - 9.97%2030 - 2040 49 181
Total AIG borrowings supported by assets2,2343,265
Total debt issued or guaranteed by AIG25,96825,421
Debt not guaranteed by AIG:
Other subsidiaries notes, bonds, loans and
mortgages payable2.68% - 4.73%2019 - 2024 168 190
Debt of consolidated investments(b)0% - 10.3%2019 - 20678,4046,029
Total debt not guaranteed by AIG8,5726,219
Total long term debt $34,540$31,640

(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 $1.5 billion and $2.0 billion at December 31, 2018 and December 31, 2017, 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, 2018, includes debt of consolidated investment vehicles related to real estate investments of $3.7 billion, affordable housing partnership investments of $1.8 billion and other securitization vehicles of $2.9 billion. At December 31, 2017, includes debt of consolidated investment vehicles related to real estate investments of $2.5 billion, affordable housing partnership investments of $1.8 billion and other securitization vehicles of $1.7 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 $8.4 billion of debt of consolidated investments:

December 31, 2018Year Ending
(in millions) Total20192020202120222023Thereafter
Debt issued or guaranteed by AIG:
AIG general borrowings:
Notes and bonds payable$20,853$999$1,344$1,497$1,509$1,599$13,905
Junior subordinated debt1,548-----1,548
AIG Japan Holdings Kabushiki Kaisha331-114217---
Validus notes and bonds payable359-----359
AIGLH notes and bonds payable282-----282
AIGLH junior subordinated debt361-----361
Total AIG general borrowings23,7349991,4581,7141,5091,59916,455
AIG borrowings supported by assets:
MIP notes payable-------
Series AIGFP matched notes and
bonds payable21-----21
GIAs, at fair value2,16427231157481151,541
Notes and bonds payable, at fair value49-----49
Total AIG borrowings supported by assets2,23427231157481151,611
Total debt issued or guaranteed by AIG25,9681,2711,4891,8711,5571,71418,066
Other subsidiaries notes, bonds, loans
and mortgages payable168117142116
Total$26,136$1,388$1,490$1,913$1,558$1,715$18,072

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

UncollateralizedCollateralized
At December 31, 2018Notes/Bonds/LoansLoans and
(in millions)PayableMortgages PayableTotal
AIG general borrowings$331$-$331
Other subsidiaries notes, bonds, loans and mortgages payable*2166168
Total$333$166$499

* AIG does not guarantee any of these borrowings.

AIGLH Junior Subordinated Debentures

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, 2018, 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 June 2022.

At December 31, 2018 Available Effective
(in millions)Size Amount ExpirationDate
Syndicated Credit Facility$4,500$4,500June 20226/27/2017