ICBC contributes $92.5 million USD to $3.79 billion USD syndicated revolving credit facility to American International Group for general corporate and refinancing purposes in 2014 (Linked to Record ID#106362, #106363, #106365 and #106366)

Project narrative

On October 12, 2011, financial close was reached on a deal in which a syndicate of 35 banks entered into a $1,500,000,000 USD syndicated revolving credit facility with American International Group, Inc. (AIG) — a multinational finance and insurance corporation headquartered in New York, USA. The loan's maturity is four years, and the interest rate was based on the LIBOR plus an applicable margin based on the credit ratings of the company. The proceeds were utilized by AIG primarily for general corporate purposes. While the Industrial and Commercial Bank of China (ICBC) contributed $9,188,191.88 USD to the loan (Record ID#106362) the following lenders also participated: JPMorgan Chase Bank, N.A. ($61,254,612.55 USD); Citibank, N.A. ($61,254,612.56 USD); Banco Santander, S.A. ($55,129,151.29 USD); Barclays Bank PLC ($55,129,151.29 USD); BNP Paribas ($55,129,151.29 USD); Credit Suisse AG ($55,129,151.29 USD); Deutsche Bank AG ($55,129,151.29 USD); Goldman Sachs Bank USA ($55,129,151.29 USD); Morgan Stanley Bank, N.A. ($55,129,151.29 USD); Royal Bank of Canada ($55,129,151.29 USD); Standard Chartered Bank ($55,129,151.29 USD); The Royal Bank of Scotland PLC ($55,129,151.29 USD); UBS AG, Stamford Branch ($55,129,151.29 USD); U.S. Bank National Association ($55,129,151.29 USD); Wells Fargo Bank, National Association ($55,129,151.29 USD); Australia and New Zealand Banking Group Limited ($32,158,671.59 USD); ING Bank N.V. ($32,158,671.59 USD); Mizuho Corporate Bank, Ltd. ($32,158,671.59 USD); National Australia Bank Limited ($32,158,671.59 USD); PNC Bank, National Association ($32,158,671.59 USD); Société Générale ($32,158,671.59 USD); State Street Bank and Trust Company ($32,158,671.59 USD); Sumitomo Mitsui Banking Corporation ($32,158,671.59 USD); The Bank of New York Mellon ($32,158,671.59 USD); HSBC Bank USA, National Association ($22,970,479.70 USD); Lloyds TSB Bank PLC ($22,970,479.70 USD); Natixis, New York Branch ($22,970,479.70 USD); and Unicredit Bank AG, New York Branch ($22,970,479.70 USD). On October 5, 2012, financial close was reached on a deal in which a syndicate of 34 banks entered into a $2,000,000,000 USD syndicated loan agreement with American International Group, Inc. (AIG) — a multinational finance and insurance corporation headquartered in New York, USA. This RCF replaced the 2011 one and serves as the First Amendment. The loan's maturity is four years, and the interest rate was based on LIBOR plus an applicable margin. The proceeds were utilized by AIG primarily for general corporate purposes. While the Industrial and Commercial Bank of China (ICBC) contributed $41,871,658 USD to this R/C tranche (Record ID#106363), the following lenders also participated: JPMorgan Chase Bank, N.A. ($81,417,108.50 USD); Citibank, N.A. ($81,417,108.50 USD); Banco Santander, S.A. ($160,000,000 USD); Bank of America, N.A. ($74,438,503 USD); Barclays Bank PLC ($74,438,503 USD); BNP Paribas ($74,438,503 USD); Credit Suisse AG ($74,438,503 USD); Deutsche Bank AG ($74,438,503 USD); Goldman Sachs Bank USA ($74,438,503 USD); Morgan Stanley Bank, N.A. ($74,438,503 USD); Royal Bank of Canada ($74,438,503 USD); Standard Chartered Bank ($74,438,503 USD); The Royal Bank of Scotland PLC ($74,438,503 USD); UBS AG ($74,438,503 USD); U.S. Bank National Association ($74,438,503 USD); Wells Fargo Bank, N.A. ($74,438,503 USD); Australia and New Zealand Banking Group Limited ($41,871,658 USD); HSBC Bank USA ($41,871,658 USD); ING Bank N.V. ($41,871,658 USD); Mizuho Corporate Bank, Ltd. ($41,871,658 USD); National Australia Bank Limited ($41,871,658 USD); PNC Bank, N.A. ($41,871,658 USD); Société Générale ($41,871,658 USD); State Street Bank and Trust Company ($41,871,658 USD); Sumitomo Mitsui Banking Corporation ($41,871,658 USD); The Bank of New York Mellon ($41,871,658 USD); The Bank of Nova Scotia ($41,871,658 USD); Lloyds TSB Bank PLC ($30,240,642 USD); Nomura Corporate Funding Americas, LLC ($65,000,000 USD); UniCredit Bank AG ($30,240,642 USD); Manufacturers and Traders Trust Company ($23,262,032 USD); Natixis, New York Branch ($23,262,032 USD); and The Governor and Company of the Bank of Ireland ($35,000,000 USD). On June 19, 2014, financial close was reached on a deal in which a syndicate of 33 banks entered into a $4,000,000,000 USD syndicated loan agreement (3.79 billion of which was for the revolving credit and 210 million was for letter of credit) with American International Group, Inc. (AIG) — a multinational finance and insurance corporation headquartered in New York, USA. This RCF replaced the 2012 one and serves as the Second Amendment. The loan's maturity is five years, and the interest rate was based on LIBOR plus an applicable margin. The proceeds were utilized by AIG primarily for general corporate purposes. While the Industrial and Commercial Bank of China (ICBC) contributed $92,500,000 USD to the NAIC tranche of this loan (Record ID#106364), the following lenders also participated: JPMorgan Chase Bank, N.A. ($177,500,000 USD); Citibank, N.A. ($177,500,000 USD); Santander Bank, N.A. ($162,500,000 USD); Bank of America, N.A. ($162,500,000 USD); Barclays Bank PLC ($162,500,000 USD); BNP Paribas ($162,500,000 USD); Credit Suisse AG ($162,500,000 USD); Deutsche Bank AG ($162,500,000 USD); Goldman Sachs Bank USA ($162,500,000 USD); HSBC Bank USA, N.A. ($162,500,000 USD); Morgan Stanley Bank, N.A. ($162,500,000 USD); Royal Bank of Canada ($162,500,000 USD); Standard Chartered Bank ($162,500,000 USD); The Royal Bank of Scotland PLC ($162,500,000 USD); U.S. Bank National Association ($162,500,000 USD); Wells Fargo Bank, N.A. ($162,500,000 USD); Australia and New Zealand Banking Group Limited ($92,500,000 USD); Mizuho Bank, Ltd. ($92,500,000 USD); National Australia Bank Limited ($92,500,000 USD); PNC Bank, N.A. ($92,500,000 USD); Société Générale ($92,500,000 USD); State Street Bank and Trust Company ($92,500,000 USD); Sumitomo Mitsui Banking Corporation ($92,500,000 USD); The Bank of New York Mellon ($92,500,000 USD); The Bank of Nova Scotia ($92,500,000 USD); Lloyds TSB Bank PLC ($67,500,000 USD); UniCredit Bank AG ($67,500,000 USD); Manufacturers and Traders Trust Company ($50,000,000 USD); Natixis, New York Branch ($50,000,000 USD); and The Governor and Company of the Bank of Ireland ($50,000,000 USD). On November 5, 2015, financial close was reached on a deal in which a syndicate of 36 banks entered into a $4,500,000,000 USD syndicated loan agreement with American International Group, Inc. (AIG) — a multinational finance and insurance corporation headquartered in New York, USA (4,288,000,000 of which was for RCF and 212 million was for LOC)This RCF replaced the 2014 one and serves as the Third Amendment The loan's maturity is five years, and the interest rate was based on LIBOR plus an applicable margin. The proceeds were utilized by AIG primarily for general corporate purposes, as stipulated in the loan agreement, enabling the company to support its operational and strategic activities during the financing period. While the Industrial and Commercial Bank of China (ICBC) contributed $94,000,000 USD to the NAIC tranche of this loan (Record ID#106365), the following lenders also participated: Citibank, N.A. ($180,000,000 USD); JPMorgan Chase Bank, N.A. ($180,000,000 USD); Bank of America, N.A. ($164,500,000 USD); Barclays Bank PLC ($164,500,000 USD); BNP Paribas ($164,500,000 USD); Credit Suisse AG ($164,500,000 USD); Deutsche Bank AG ($164,500,000 USD); Goldman Sachs Bank USA ($164,500,000 USD); HSBC Bank USA, N.A. ($164,500,000 USD); Mizuho Bank, Ltd. ($164,500,000 USD); Morgan Stanley Bank, N.A. ($164,500,000 USD); PNC Bank, N.A. ($164,500,000 USD); Royal Bank of Canada ($164,500,000 USD); Santander Bank, N.A. ($164,500,000 USD); Standard Chartered Bank ($164,500,000 USD); Sumitomo Mitsui Banking Corporation ($164,500,000 USD); The Royal Bank of Scotland PLC ($164,500,000 USD); U.S. Bank National Association ($164,500,000 USD); Wells Fargo Bank, N.A. ($164,500,000 USD); Australia and New Zealand Banking Group Limited ($94,000,000 USD); Banco Bilbao Vizcaya Argentaria, S.A. ($94,000,000 USD); Crédit Agricole Corporate and Investment Bank ($94,000,000 USD); ING Bank N.V. ($94,000,000 USD); Lloyds Bank PLC ($94,000,000 USD); National Australia Bank Limited ($94,000,000 USD); Société Générale ($94,000,000 USD); State Street Bank and Trust Company ($94,000,000 USD); The Bank of New York Mellon ($94,000,000 USD); The Bank of Nova Scotia ($94,000,000 USD); The Bank of Tokyo-Mitsubishi UFJ ($94,000,000 USD); Nomura Corporate Funding Americas, LLC ($68,000,000 USD); UniCredit Bank AG ($68,000,000 USD); Manufacturers and Traders Trust Company ($50,000,000 USD); Natixis, New York Branch ($50,000,000 USD); and The Governor and Company of the Bank of Ireland ($50,000,000 USD). On June 27, 2017, financial close was reached on a deal in which a syndicate of 33 banks entered into a $4,500,000,000 USD syndicated loan agreement with American International Group, Inc. (AIG) — a multinational finance and insurance corporation headquartered in New York, USA ($4.091 billion of which was for RCF and 409 million was for LOC) This RCF replaced the 2015 one and serves as the Fourth Amendment. The loan's maturity is five years, and the interest rate was based on LIBOR plus an applicable margin. The proceeds were utilized by AIG primarily for general corporate purposes, as stipulated in the loan agreement, enabling the company to support its operational and strategic activities during the financing period. While the Industrial and Commercial Bank of China (ICBC) contributed $169,000,000 USD to this NAIC tranche (Record ID#106366), the following lenders also participated: JPMorgan Chase Bank, N.A. ($189,000,000 USD); Citibank, N.A. ($189,000,000 USD); Bank of America, N.A. ($169,000,000 USD); Barclays Bank PLC ($169,000,000 USD); BNP Paribas ($169,000,000 USD); Credit Suisse AG ($169,000,000 USD); Deutsche Bank AG ($169,000,000 USD); Goldman Sachs Bank USA ($169,000,000 USD); HSBC Bank USA, N.A. ($169,000,000 USD); Mizuho Bank, Ltd. ($169,000,000 USD); Morgan Stanley Bank, N.A. ($169,000,000 USD); PNC Bank, N.A. ($169,000,000 USD); Royal Bank of Canada ($169,000,000 USD); Standard Chartered Bank ($169,000,000 USD); Sumitomo Mitsui Banking Corporation ($169,000,000 USD); UniCredit Bank AG ($169,000,000 USD); U.S. Bank National Association ($169,000,000 USD); Wells Fargo Bank, N.A. ($169,000,000 USD); Australia and New Zealand Banking Group Limited ($95,000,000 USD); Banco Bilbao Vizcaya Argentaria, S.A. ($95,000,000 USD); Société Générale ($95,000,000 USD); The Bank of New York Mellon ($95,000,000 USD); The Bank of Nova Scotia ($95,000,000 USD); The Bank of Tokyo-Mitsubishi UFJ, Ltd. ($95,000,000 USD); State Street Bank and Trust Company ($75,000,000 USD); Manufacturers and Traders Trust Company ($50,000,000 USD); and Natixis, New York Branch ($50,000,000 USD). Additional participants in the Non-NAIC tranche included The Royal Bank of Scotland PLC ($169,000,000 USD), ING Bank N.V. ($95,000,000 USD), Nomura Corporate Funding Americas, LLC ($95,000,000 USD), and The Governor and Company of the Bank of Ireland ($50,000,000 USD). On November 23, 2020, the lenders requested for an amendment to change a few definitions. On November 19, 2021, the borrower and certain lenders entered into a new credit agreement. There’s no Chinese bank involved.