By Andrea Heisinger
New York, March 21 - American Express Credit Corp. sold $1.5 billion of 2.375% five-year senior notes on Wednesday to yield Treasuries plus 130 basis points, an informed source said.
The notes (A2/BBB+/A+) were priced at 99.729 to yield 2.433%. The paper is 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 HSBC Securities (USA) Inc., Lloyds Securities Inc., Mitsubishi UFJ Securities (USA) Inc. and Mizuho Securities (USA) Inc.
Junior co-managers were CastleOak Securities LP and Williams Capital Group LP.
American Express was last in the market with a $1 billion reopening of 2.8% five-year notes due 2016 on Nov. 16, 2011, which priced at 190 bps over Treasuries.
The financial services company is based in New York City.
| Issuer: | American Express Credit Corp.
|
| Issue: | Senior notes
|
| Amount: | $1.5 billion
|
| Maturity: | March 24, 2017
|
| Bookrunners: | Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., RBS Securities Inc.
|
| Co-managers: | HSBC Securities (USA) Inc., Lloyds Securities Inc., Mitsubishi UFJ Securities (USA) Inc., Mizuho Securities (USA) Inc.
|
| Junior co-managers: | CastleOak Securities LP, Williams Capital Group LP
|
| Coupon: | 2.375%
|
| Price: | 99.729
|
| Yield: | 2.433%
|
| Spread: | Treasuries plus 130 bps
|
| Call: | Non-callable
|
| Trade date: | March 21
|
| Settlement date: | March 26
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: BBB+
|
| Fitch: A+
|
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