By Rebecca Melvin
New York, June 1 - American Express Canada Credit Corp. priced C$725 million of bonds in dual tranches, including three-year floating-rate notes and five-year fixed notes, according to a syndicate source.
American Express Canada priced C$400 million of the five-year 3.6% bonds debt maturing June 3, 2016 at a spread of 135 basis points over Government of Canada June 2016 benchmark securities.
They priced at a slight discount to par at 99.973.
The company also priced C$350 million of three-year floating-rate notes maturing in June 2014 at 100% of par at the talked spread of 105 basis points over the one-month Canadian dealer offer rate.
BMO Nesbitt Burns and RBC Capital Markets were joint bookrunners of the offering.
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$725 million
|
| Bookrunners: | BMO Nesbitt Burns and RBC Capital Markets
|
| Pricing date: | June 1
|
| Settlement date: | June 6
|
|
|
| Five-year notes
|
| Amount: | C$400 million
|
| Maturity: | June 3, 2016
|
| Coupon: | 3.6%
|
| Price: | 99.973
|
| Yield: | 3.606%
|
|
|
| Three-year floaters
|
| Amount: | C$325 million
|
| Maturity: | June 6, 2014
|
| Par: | C$1,000
|
| Price: | Par
|
| Coupon: | One-month CDOR plus 105 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.
