By Cristal Cody
Tupelo, Miss., July 27 – American Express Credit Corp. sold $2.25 billion of fixed- and floating-rate senior notes (A3/BBB+/A) in two tranches on Thursday, according to FWP filings with the Securities and Exchange Commission.
American Express priced $400 million of five-year floating-rate notes at par to yield Libor plus 61 basis points.
The company placed $1.85 billion of 2.5% five-year fixed-rate notes at 99.921 to yield 2.517% and a spread of Treasuries plus 68 bps.
Barclays, Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and BofA Merrill Lynch were the bookrunners.
Proceeds will be used for general corporate purposes.
American Express Credit is a New York City-based credit card services provider.
| Issuer: | American Express Credit Corp.
|
| Amount: | $2.25 billion
|
| Description: | Senior notes
|
| Bookrunners: | Barclays, Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and BofA Merrill Lynch
|
| Co-managers: | BMO Capital Markets Corp., Lloyds Securities Inc., MUFG, RBS Securities Inc. and TD Securities (USA) LLC
|
| Junior co-managers: | Williams Capital Group, LP and Westpac Banking Corp.
|
| Trade date: | July 27
|
| Settlement date: | Aug. 1
|
| Ratings: | Moody’s: A3
|
| S&P: BBB+
|
| Fitch: A
|
| Distribution: | SEC registered
|
|
|
| Five-year floaters
|
| Amount: | $400 million
|
| Maturity: | Aug. 1, 2022
|
| Coupon: | Libor plus 61 bps
|
| Price: | Par
|
| Yield: | Libor plus 61 bps
|
| Call feature: | At par starting 31 days before maturity
|
|
|
| Five-year notes
|
| Amount: | $1.85 billion
|
| Maturity: | Aug. 1, 2022
|
| Coupon: | 2.5%
|
| Price: | 99.921
|
| Yield: | 2.517%
|
| Spread: | Treasuries plus 68 bps
|
| Call feature: | At par starting 31 days before maturity
|
© 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.
