By Cristal Cody
Tupelo, Miss., Feb. 22 – American Express Co. priced $2 billion of senior notes (A3/BBB+/A) in two tranches on Thursday, according to a market source.
The company priced $400 million of five-year floating-rate notes at Libor plus 65 basis points.
American Express sold $1.6 billion of 3.4% five-year fixed-rate notes with a spread of 77 bps over Treasuries.
The deal had a total book size of $3.3 billion.
Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. LLC were the bookrunners.
Proceeds will be used for general corporate purposes.
The credit card services company is based in New York.
| Issuer: | American Express Co.
|
| Amount: | $2 billion
|
| Description: | Fixed- and floating-rate senior notes
|
| Bookrunners: | Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. LLC
|
| Trade date: | Feb. 22
|
| Ratings: | Moody’s: A3
|
| S&P: BBB+
|
| Fitch: A
|
| Distribution: | SEC registered
|
|
|
| Five-year floaters
|
| Amount: | $400 million
|
| Securities: | Floating-rate senior notes
|
| Maturity: | Feb. 27, 2023
|
| Coupon: | Libor plus 65 bps
|
|
|
| Five-year notes
|
| Amount: | $1.6 billion
|
| Securities: | Fixed-rate senior notes
|
| Maturity: | Feb. 27, 2023
|
| Coupon: | 3.4%
|
| Spread: | Treasuries plus 77 bps
|
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