New Issue: AmEx Credit prices $1.9 billion five-year senior notes in fixed-, floating-rate tranches

By Aleesia Forni

Virginia Beach, Aug. 12 – American Express Credit Corp. sold $1.9 billion of senior notes (A2/A-/A+) in fixed- and floating-rate tranches due 2019, according to two separate FWP filings with the Securities and Exchange Commission

The sale included $400 million of floating-rate notes due 2019 priced at par to yield Libor plus 49 basis points.

The issuer also priced $1.5 billion of 2.25% five-year notes at 99.939 to yield 2.263%, or Treasuries plus 65 bps.

Citigroup Global Markets Inc., HSBC Securities (USA) Inc., BofA Merrill Lynch and RBC Capital Markets LLC were the joint bookrunners for the deal.

American Express is a New York-based financial services company.

Issuer:	American Express Credit Corp.
Issue:	Medium-term senior notes, series E
Amount:	$1.9 billion
Joint bookrunners:	Citigroup Global Markets Inc., HSBC Securities (USA) Inc., BofA Merrill Lynch, RBC Capital Markets LLC
Co-managers:	Mitsubishi UFJ Securities (USA), Inc., Mizuho Securities USA Inc., nabSecurities, LLC, TD Securities (USA) LLC
Junior co-managers:	Samuel A. Ramirez & Co. Inc., Williams Capital Group, LP
Trade date:	Aug. 12
Settlement date:	Aug. 15
Ratings:	Moody's: A2
	Standard & Poor's: A-
	Fitch: A+
Distribution:	SEC-registered
Five-year floaters
Amount:	$400 million
Maturity:	Aug. 15, 2019
Coupon:	Libor plus 49 bps
Price:	Par
Yield:	Libor plus 49 bps
Five-year notes
Amount:	$1.5 billion
Maturity:	Aug. 15, 2019
Coupon:	2.25%
Price:	99.939
Yield:	2.263%
Spread:	Treasuries plus 65 bps

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