By Andrea Heisinger
New York, Sept. 14 - American Express Credit Corp. sold $1.3 billion of 2.8% five-year senior medium-term notes on Wednesday to yield Treasuries plus 192 basis points, an informed source said.
The notes were priced at the low end of guidance in the 195 bps area.
The notes (A2/BBB+/A+) were priced at 99.917 to yield 2.818%. They are non-callable.
Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and RBS Securities Inc. were the bookrunners.
Co-managers were BNP Paribas Securities Corp., Mitsubishi UFJ Securities (USA) Inc. and Mizuho Securities USA Inc.
Junior co-managers were CastleOak Securities LP and Williams Capital Group LP.
Proceeds are being used for general corporate purposes.
American Express Credit last priced debt in a $600 million deal of three-year floating-rate notes on June 17.
The arm of financial services company American Express Co. is based in New York City.
| Issuer: | American Express Credit Corp.
|
| Issue: | Senior medium-term notes
|
| Amount: | $1.3 billion
|
| Maturity: | Sept. 19, 2016
|
| Bookrunners: | Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., RBS Securities Inc.
|
| Co-managers: | BNP Paribas Securities Corp., Mitsubishi UFJ Securities (USA) Inc., Mizuho Securities USA Inc.
|
| Junior co-managers: | CastleOak Securities LP, Williams Capital Group LP
|
| Coupon: | 2.8%
|
| Price: | 99.917
|
| Yield: | 2.818%
|
| Spread: | Treasuries plus 192 bps
|
| Call: | Non-callable
|
| Trade date: | Sept. 14
|
| Settlement date: | Sept. 19
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: BBB+
|
| Fitch: A+
|
| Price talk: | 195 bps area
|
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