Published on 9/8/2008 in the Prospect News Investment Grade Daily.
New Issue: American Express Credit sells $102.838 million in three tranches
By Andrea Heisinger
New York, Sept. 8 - American Express Credit Corp. priced $102.84 million InterNotes (Aa3/A+/) in three tranches Monday, according to a 424B3 filing with the Securities and Exchange Commission.
The issue consisted of $45.45 million of 5.7% three-year notes, $36.07 million of 6.25% five-year notes and $21.32 million of 6.65% seven-year notes.
All were priced at par and are non-callable.
Joint lead managers and lead agents were Banc of America Securities LLC and Incapital LLC.
Co-agents were Charles Schwab & Co. Inc., Citigroup Global Markets Inc., Fidelity Capital Markets Services, a division of National Financial Services, LLC, Merrill Lynch, Pierce, Fenner & Smith Inc., Morgan Stanley & Co. Inc., Raymond James & Associates, Inc., RBC Capital Markets Corp., UBS Securities LLC and Wachovia Securities, LLC.
The arm of American Express is based in New York City.
Issuer: | American Express Credit Corp.
|
Issue: | Senior unsecured InterNotes
|
Amount: | $102,838,000
|
Lead agents: | Banc of America Securities LLC and Incapital LLC
|
Co-agents: | Charles Schwab & Co. Inc., Citigroup Global Markets Inc., Fidelity Capital Markets Services, a division of National Financial Services, LLC, Merrill Lynch, Pierce, Fenner & Smith Inc., Morgan Stanley & Co. Inc., Raymond James & Associates, Inc., RBC Capital Markets Corp., UBS Securities LLC, Wachovia Securities, LLC
|
Trade date: | Sept. 8
|
Settlement date: | Sept. 11
|
Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
|
Three-year notes
|
Amount: | $45.45 million
|
Maturity: | Sept. 15, 2011
|
Coupon: | 5.7%
|
Price: | Par
|
Yield: | 5.7%
|
Call: | Non-callable
|
|
Five-year notes
|
Amount: | $36,073,000
|
Maturity: | Sept. 15, 2013
|
Coupon: | 6.25%
|
Price: | Par
|
Yield: | 6.25%
|
Call: | Non-callable
|
|
Seven-year notes
|
Amount: | $21,315,000
|
Maturity: | Sept. 15, 2015
|
Coupon: | 6.65%
|
Price: | Par
|
Yield: | 6.65%
|
Call: | Non-callable
|
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