By Andrea Heisinger
New York, Sept. 8 - American Express Credit Corp. sold an upsized $2 billion of 2.75% five-year senior notes on Wednesday to yield Treasuries plus 143 basis points, a source who worked on the trade said.
The size was announced in the morning at $1 billion but was upsized at the launch in the afternoon. The notes priced in line with talk in the 143 bps area.
The notes (A2/BBB+/A+) priced at 99.416 to yield 2.876%. They are non-callable.
Bookrunners were Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. and RBS Securities Inc.
The subsidiary of financial services provider American Express Co. is based in New York City.
| Issuer: | American Express Credit Corp.
|
| Issue: | Senior notes
|
| Amount: | $2 billion, increased from $1 billion
|
| Maturity: | Sept. 15, 2015
|
| Bookrunners: | Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co., RBS Securities Inc.
|
| Coupon: | 2.75%
|
| Price: | 99.416
|
| Yield: | 2.876%
|
| Spread: | Treasuries plus 143 bps
|
| Call: | Non-callable
|
| Trade date: | Sept. 8
|
| Settlement date: | Sept. 13
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: BBB+
|
| Fitch: A+
|
| Price talk: | 143 bps area
|
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