American Express Co. issued $1.25 billion of 2.750% notes due May 20, 2022, $900 million of floating-rate notes due May 20, 2022, and $850 million of 3.125% notes due May 20, 2026.
Interest on the notes will be paid semiannually on May 20 and Nov. 20 each year, beginning Nov. 20, 2019
Net proceeds to the company, before expenses, from the issuance of all the notes are expected to be $2.99 billion. The company plans to use the net proceeds for general corporate purposes.
Barclays Capital Inc., BofA Securities Inc., HSBC Securities (USA) Inc. and Wells Fargo Securities LLC are acting as joint book-running managers.
Lloyds Securities Inc., MUFG Securities Americas Inc., SMBC Nikko Securities America Inc., Standard Chartered Bank and TD Securities (USA) LLC are acting as co-managers for the offering. Westpac Capital Markets LLC and The Williams Capital Group LP are acting as junior co-managers.
The Bank of New York Mellon is the trustee and the calculation agent.