New Issue: AmEx Credit sells $2 billion of five-year notes in fixed-, floating-rate tranches

By Aleesia Forni

Virginia Beach, Sept. 9 – American Express Credit Corp. priced $2 billion of five-year senior medium-term notes, series F, (A2/A-/A+) on Wednesday in fixed- and floating-rate tranches, according to FWP filings with the Securities and Exchange Commission.

A $500 million floating-rate note sold at par to yield Libor plus 105 basis points.

There was also a $1.5 billion 2.6% fixed-rate note sold at 99.921 to yield 2.617%, or Treasuries plus 110 bps.

Bookrunners were Barclays, Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and RBC Capital Markets, LLC.

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.
Issue:	Senior medium-term notes, series F
Amount:	$2 billion
Bookrunners:	Barclays, Citigroup Global Markets Inc., HSBC Securities (USA) Inc., RBC Capital Markets, LLC
Co-managers:	Lloyds Securities Inc., MUFG, nabSecurities, LLC, SMBC Nikko Securities America, Inc.
Junior co-managers:	RedTail Capital Markets, LLC, Williams Capital Group, LP
Trade date:	Sept. 9
Settlement date:	Sept. 14
Ratings:	Moody’s: A2
	Standard & Poor’s: A-
	Fitch: A+
Distribution:	SEC registered
Floating-rate notes
Amount:	$500 million
Maturity:	Sept. 14, 2020
Coupon:	Libor plus 105 bps
Price:	Par
Yield:	Libor plus 105 bps
Fixed-rate notes
Amount:	$1.5 billion
Maturity:	Sept. 14, 2020
Coupon:	2.6%
Price:	99.921
Yield:	2.617%
Spread:	Treasuries plus 110 bps

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