By Aleesia Forni
Virginia Beach, March 13 - American Express Credit Corp. was in the market Thursday with a $2.25 billion sale of senior notes (A2/A-/) in two parts, a market source said.
A $1 billion tranche of five-year floaters priced at par to yield Libor plus 55 basis points.
There was also $1.25 billion of 2.125% notes due 2019 priced at 99.811 to yield 2.165%, or Treasuries plus 65 bps.
The notes priced at the tight end of talk.
The bookrunners were BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and RBS Securities Inc.
American Express is a New York-based financial services company.
| Issuer: | American Express Credit Corp.
|
| Issue: | Senior notes
|
| Amount: | $2.25 billion
|
| Bookrunners: | BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, RBS Securities Inc.
|
| Trade date: | March 13
|
| Settlement date: | March 18
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
|
|
| Floaters due 2019
|
| Amount: | $1 billion
|
| Maturity: | March 18, 2019
|
| Coupon: | Libor plus 55 bps
|
| Price: | Par
|
| Yield: | Libor plus 55 bps
|
| Price talk: | Libor equivalent to five-year fixed-rate notes
|
|
|
| Notes due 2019
|
| Amount: | $1.25 billion
|
| Maturity: | March 18, 2019
|
| Coupon: | 2.125%
|
| Price: | 99.811
|
| Yield: | 2.165%
|
| Spread: | Treasuries plus 65 bps
|
| Price talk: | Treasuries plus 70 bps, tightened from Treasuries plus high-70 bps area
|
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