Tags: American Express | debt | offering | sale

American Express Plans Offering of Five-Year Debt in Two Parts

Wednesday, 15 May 2013 03:00 PM

American Express Co. plans to offer five-year debt in two parts.

The biggest credit-card issuer by purchases intends to sell fixed- and floating-rate notes to repay $1 billion of 4.875 percent debt maturing July 15, the New York-based company said in a regulatory filing. The offering may price as soon as today, according to a person with knowledge of the offering who asked not to be identified because terms aren’t set.

American Express last sold dollar-denominated benchmark debt in January, when it offered $1.27 billion of 2.65 percent notes due December 2022 and $1.05 billion of 4.05 percent securities maturing December 2042.

Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co., and UBS AG are managing the offering, the filing shows. The new debt may be rated A3 by Moody’s Investors Service, the person said.

Benchmark sales are typically at least $500 million.

© Copyright 2016 Bloomberg News. All rights reserved.

1Like our page
American Express Co. plans to offer five-year debt in two parts.
American Express,debt,offering,sale

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved