By Andrea Heisinger
New York, Aug. 14 - American Express Credit Corp. reopened its issue of 1.75% medium-term senior notes due in June 2015 to add $750 million, according to a market source and an FWP filing with the Securities and Exchange Commission.
The size of the reopening was increased from $500 million.
The notes (A2/A-/A+) were sold at 102.104 to yield 0.989% with a spread of Treasuries plus 60 basis points.
Total issuance is $2 billion, including $1.25 billion priced on June 7 at 140 bps over Treasuries.
Bookrunners were Barclays, Citigroup Global Markets Inc. and Deutsche Bank Securities Inc.
Morgan Stanley & Co. LLC and U.S. Bancorp Investments Inc. were the co-managers. Junior co-managers were Samuel A. Ramirez & Co. Inc. and Williams Capital Group LP.
The financial services company is based in New York City.
| Issuer: | American Express Credit Corp.
|
| Issue: | Senior medium-term notes
|
| Amount: | $750 million, upsized from $500 million
|
| Maturity: | June 12, 2015
|
| Bookrunners: | Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc.
|
| Co-managers: | Morgan Stanley & Co. LLC, U.S. Bancorp Investments Inc.
|
| Junior co-managers: | Samuel A. Ramirez & Co. Inc., Williams Capital Group LP
|
| Coupon: | 1.75%
|
| Price: | 102.104
|
| Yield: | 0.989%
|
| Spread: | Treasuries plus 60 bps
|
| Call: | Non-callable
|
| Trade date: | Aug. 14
|
| Settlement date: | Aug. 20
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
| Fitch: A+
|
| Total issuance: | $2 billion, including $1.25 billion priced on June 7
|
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