New Issue: American Express sells $500 million three-year floaters at Libor plus 61 bps

By Cristal Cody

Tupelo, Miss., July 28 – American Express Credit Corp. sold $500 million of three-year senior medium-term floating-rate notes (A2/A-/A+) at par on Tuesday, according to a FWP filing with the Securities and Exchange Commission.

The series F notes priced to yield Libor plus 61 basis points.

Deutsche Bank Securities Inc., Mizuho Securities USA Inc. and Wells Fargo Securities, LLC were the bookrunners.

American Express Credit is a New York-based subsidiary of credit card issuer and travel-related services provider American Express Co.

Issuer:	American Express Credit Corp.
Amount:	$500 million
Maturity:	July 31, 2018
Securities:	Senior medium-term floating-rate notes
Bookrunners:	Deutsche Bank Securities Inc., Mizuho Securities USA Inc., Wells Fargo Securities, LLC
Co-managers:	MUFG, Standard Chartered Bank, U.S. Bancorp Investments, Inc.
Junior co-managers:	Williams Capital Group, LP, Samuel A. Ramirez & Co., Inc.
Coupon:	Libor plus 61 bps
Price:	Par
Yield:	Libor plus 61 bps
Call feature:	On or after the date 31 days prior to maturity at par plus accrued and unpaid interest to but excluding the redemption date
Trade date:	July 28
Settlement date:	July 31
Ratings:	Moody’s: A2
	Standard & Poor’s: A-
	Fitch: A+
Distribution:	SEC registered

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