By Aleesia Forni
Virginia Beach, Sept. 18 – American Express Credit Corp. sold $1 billion of senior notes in two tranches due 2017, an informed source said.
There was $300 million of three-year floaters priced at par to yield Libor plus 30 basis points.
A second tranche was $700 million of 1.55% three-year notes priced at 99.866 to yield 1.596%, or Treasuries plus 50 bps.
Barclays, Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. are the bookrunners.
American Express is a New York-based financial services company.
| Issuer: | American Express Credit Corp.
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| Issue: | Senior notes
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| Amount: | $1 billion
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| Joint bookrunners: | Barclays, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc.
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| Trade date: | Sept. 18
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| Distribution: | SEC-registered
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| Three-year floaters
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| Amount: | $300 million
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| Maturity: | 2017
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| Coupon: | Libor plus 30 bps
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| Price: | Par
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| Yield: | Libor plus 30 bps
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|
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| Three-year notes
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| Amount: | $700 million
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| Maturity: | 2017
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| Coupon: | 1.55%
|
| Price: | 99.866
|
| Yield: | 1.596%
|
| Spread: | Treasuries plus 50 bps
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