By Cristal Cody
Tupelo, Miss., May 14 – American Express Co. priced $2 billion of senior notes (A3/BBB+/A) in two tranches on Monday, according to a market source.
The company priced $800 million of three-year floating-rate notes at Libor plus 52.5 basis points.
American Express sold $1.2 billion of 3.375% three-year fixed-rate notes at a spread of 68 bps over Treasuries.
Barclays, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and RBC Capital Markets 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: | Senior notes
|
| Bookrunners: | Barclays, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and RBC Capital Markets LLC
|
| Trade date: | May 14
|
| Ratings: | Moody’s: A3
|
| S&P: BBB+
|
| Fitch: A
|
| Distribution: | SEC registered
|
|
|
| Three-year floaters
|
| Amount: | $800 million
|
| Securities: | Floating-rate notes
|
| Maturity: | May 17, 2021
|
| Coupon: | Libor plus 52.5 bps
|
|
|
| Three-year notes
|
| Amount: | $1.2 billion
|
| Securities: | Fixed-rate notes
|
| Maturity: | May 17, 2021
|
| Coupon: | 3.375%
|
| Spread: | Treasuries plus 68 bps
|
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