American Express selling five-year notes Wednesday in two parts

By Andrea Heisinger

New York, May 15 - American Express Co. is in the market Wednesday selling five-year notes (A3/BBB+/A+) in two tranches, according to an informed source and a 424B2 filing with the Securities and Exchange Commission.

The offering is expected to include five-year floating-rate notes and five-year fixed-rate notes.

Whispered guidance on the fixed-rate tranche is in the Treasuries plus 80 basis points area, with the floaters talked at the equivalent over Libor, the source said.

Both tranches are non-callable.

Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC and UBS Securities LLC are the bookrunners.

Proceeds will be used for general corporate purposes, including repayment of debt maturing in 2013.

The charge and credit card and travel services company is based in New York City.

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