Published on 6/12/2008 in the Prospect News Investment Grade Daily.
New Issue: AmEx Credit prices $525 million five-year floaters to yield one-month Libor plus 170 bps
By Andrea Heisinger
Omaha, June 12 - American Express Credit Corp. priced $525 million of five-year floating-rate notes (Aa3/A+/A+) on Thursday at par to yield one-month Libor plus 170 basis points, market sources said.
J.P. Morgan Securities Inc. was the bookrunner.
The credit card financing company is based in Wilmington, Del.
| Issuer: | American Express Credit Corp.
|
| Issue: | Floating-rate notes
|
| Amount: | $525 million
|
| Maturity: | June 19, 2013
|
| Bookrunner: | J.P. Morgan Securities Inc.
|
| Coupon: | One-month Libor plus 170 bps
|
| Price: | Par
|
| Yield: | One-month Libor plus 170 bps
|
| Trade date: | June 12
|
| Settlement date: | June 19
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
| Fitch: A+
|
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