By Cristal Cody
Prospect News, Sept. 27 - American Express Canada Credit Corp. sold C$200 million in a reopening of its 3.6% five-year medium-term notes (A2/BBB+//DBRS: A) at 100.574 to yield 3.465% on Tuesday, an informed bond source said.
The notes due June 3, 2016 priced at a spread of 200 basis points over the Government of Canada benchmark.
Bank of America Merrill Lynch and TD Bank Securities Inc. were the lead managers.
The company originally sold C$400 million of the notes on June 1 at a spread of 135 bps over the Canadian government benchmark.
American Express Canada is a division of the New York-based credit card company American Express Co.
| Issuer: | American Express Canada Credit Corp.
|
| Amount: | C$200 million reopening
|
| Maturity: | June 3, 2016
|
| Securities: | Medium-term notes
|
| Bookrunners: | Bank of America Merrill Lynch, TD Bank Securities Inc.
|
| Coupon: | 3.6%
|
| Price: | 100.574
|
| Yield: | 3.465%
|
| Spread: | 200 bps over Government of Canada benchmark
|
| Pricing date: | Sept. 27
|
| Settlement date: | Oct. 4
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: BBB+
|
| DBRS: A
|
| Distribution: | Canada
|
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