By Cristal Cody
Tupelo, Miss., Nov. 1 – American Express Co. priced $3 billion of senior notes (A3/BBB+/A) in three tranches on Thursday, according to a market source.
The company placed $1 billion of three-year floating-rate notes at Libor plus 60 basis points.
American Express sold $1.25 billion of 3.7% three-year fixed-rate notes at a Treasuries plus 80 bps spread.
A $750 million tranche of 4.2% seven-year fixed-rate notes priced with a 118 bps spread over Treasuries.
Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., RBC Capital Markets LLC, Wells Fargo Securities LLC and Barclays 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: | $3 billion
|
| Description: | Senior notes
|
| Bookrunners: | Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., RBC Capital Markets LLC, Wells Fargo Securities LLC and Barclays
|
| Trade date: | Nov. 1
|
| Ratings: | Moody’s: A3
|
| S&P: BBB+
|
| Fitch: A
|
| Distribution: | SEC registered
|
|
|
| Three-year floaters
|
| Amount: | $1 billion
|
| Securities: | Floating-rate notes
|
| Maturity: | Nov. 5, 2021
|
| Coupon: | Libor plus 60 bps
|
|
|
| Three-year notes
|
| Amount: | $1.25 billion
|
| Securities: | Fixed-rate notes
|
| Maturity: | Nov. 5, 2021
|
| Coupon: | 3.7%
|
| Spread: | Treasuries plus 80 bps
|
|
|
| Seven-year notes
|
| Amount: | $750 million
|
| Securities: | Fixed-rate notes
|
| Maturity: | Nov. 6, 2025
|
| Coupon: | 4.2%
|
| Spread: | Treasuries plus 118 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.
