Published on 9/6/2007 in the Prospect News Investment Grade Daily.
New Issue: American Express prices $500 million two-year floaters to yield Libor plus 35 bps
By Jennifer Chiou
New York, Sept. 6 - American Express Credit Corp. priced $500 million of floating-rate notes (Aa3/A+/A+) due Sept. 10, 2009 at par to yield one-month Libor plus 35 basis points, according to an FWP with the Securities and Exchange Commission.
Interest is payable monthly.
The agent was Citigroup Global Markets Inc.
Issuer: | American Express Credit Corp.
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Amount: | $500 million
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Maturity: | Sept. 10, 2009
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Security description: | Senior floating-rate medium-term notes
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Underwriter: | American Express Inc.
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Coupon: | One-month Libor plus 35 bps
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Price: | Par
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Yield: | One-month Libor plus 35 bps
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Trade date: | Sept. 5
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Settlement date: | Sept. 10
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Ratings: | Moody's: Aa3
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| Standard & Poor's: A+
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| Fitch: A+
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