By Andrea Heisinger
New York, June 17 - American Express Credit Corp. priced $600 million of three-year senior floating-rate notes on Friday at par to yield three-month Libor plus 85 basis points, according to a syndicate source.
The notes (A2/BBB+/A+) are non-callable.
Bookrunners were Bank of America Merrill Lynch and UBS Securities LLC.
AmEx Credit's last deal was $2 billion of five-year notes priced on Sept. 8, 2010.
The subsidiary of financial services provider American Express Co. is based in New York City.
| Issuer: | American Express Credit Corp.
|
| Issue: | Senior floating-rate notes
|
| Amount: | $600 million
|
| Maturity: | June 24, 2014
|
| Bookrunners: | Bank of America Merrill Lynch, UBS Securities LLC
|
| Coupon: | Three-month Libor plus 85 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 85 bps
|
| Call: | Non-callable
|
| Trade date: | June 17
|
| Settlement date: | June 24
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: BBB+
|
| Fitch: A+
|
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