New Issue: AmEx Credit details $1 billion senior notes in two tranches due 2017

By Aleesia Forni

Virginia Beach, Sept. 19 – American Express Credit Corp. released details for its $1 billion sale of medium-term senior notes, series E, (A2/A-/A+) sold in fixed and floating tranches due 2017 via a FWP filed with the Securities and Exchange Commission.

There was $300 million of three-year floating-rate notes priced at par to yield Libor plus 30 basis points.

A second tranche was $700 million of 1.55% three-year notes priced at 99.866 to yield 1.596%, or Treasuries plus 50 bps.

Barclays, Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. were the bookrunners.

American Express is a New York-based financial services company.

Issuer:	American Express Credit Corp.
Issue:	Medium-term senior notes, series E
Amount:	$1 billion
Joint bookrunners:	Barclays, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc.
Co-managers:	Lloyds Securities Inc., Mitsubishi UFJ Securities (USA), Inc., SMBC Nikko Securities America, Inc.
Junior co-manager:	Mischler Financial Group, Inc.
Trade date:	Sept. 18
Settlement date:	Sept. 23
Ratings:	Moody’s: A2
	Standard & Poor’s: A-
	Fitch: A+
Distribution:	SEC-registered
Three-year floating-rate notes
Amount:	$300 million
Maturity:	Sept. 22, 2017
Coupon:	Libor plus 30 bps
Price:	Par
Yield:	Libor plus 30 bps
Three-year fixed-rate notes
Amount:	$700 million
Maturity:	Sept. 22, 2017
Coupon:	1.55%
Price:	99.866
Yield:	1.596%
Spread:	Treasuries plus 50 bps

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.