By Cristal Cody
Tupelo, Miss., Feb. 28 – American Express Credit Corp. sold $4.5 billion of notes (A2/A-/A) in four tranches on Tuesday, according to a market source.
American Express priced $450 million of three-year floating-rate notes at Libor plus 43 basis points.
The company priced $2 billion of 2.2% three-year fixed-rate notes at a spread of Treasuries plus 72 basis points.
The company sold $300 million of five-year floating-rate notes at Libor plus 70 bps.
American Express priced $1.75 billion of 2.7% five-year fixed-rate notes at a Treasuries plus 82 bps spread.
BofA Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Mizuho Securities USA Inc. were the bookrunners.
American Express Credit is a New York City-based credit card services provider.
| Issuer: | American Express Credit Corp.
|
| Amount: | $4.5 billion
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Mizuho Securities USA Inc.
|
| Trade date: | Feb. 28
|
| Ratings: | Moody’s: A2
|
| S&P: A-
|
| Fitch: A
|
| Distribution: | SEC registered
|
|
|
| Three-year floaters
|
| Amount: | $450 million
|
| Maturity: | March 3, 2020
|
| Coupon: | Libor plus 43 bps
|
|
|
| Three-year notes
|
| Amount: | $2 billion
|
| Maturity: | March 3, 2020
|
| Coupon: | 2.2%
|
| Spread: | Treasuries plus 72 bps
|
|
|
| Five-year floaters
|
| Amount: | $300 million
|
| Maturity: | March 3, 2022
|
| Coupon: | Libor plus 70 bps
|
|
|
| Five-year notes
|
| Amount: | $1.75 billion
|
| Maturity: | March 3, 2022
|
| Coupon: | 2.7%
|
| Spread: | Treasuries plus 82 bps
|
|
|
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