American Express Issues Corporate Bond with Floating-Rate Note
The American Express Company has issued a corporate bond, FINRA:AXP5674402, which is a floating-rate note (FRN) due to mature on October 30, 2026. According to TradingView, the bond's credit rating has been assessed by Standard & Poor's and Fitch Ratings.
Standard & Poor's ratings for American Express show a long-term rating of 500 as of January 1, 2010, increasing to 690 in 2009 and decreasing to 680 in 2008. For the same period, Fitch Ratings' long-term rating was 700.
The bond has a coupon rate of non-protected, meaning it does not offer any inflation protection. The issuer's credit ratings have been stable over time, with some fluctuations in outlook. American Express' parent company is also listed on the NYSE as AXP.
Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, and RBC Capital Markets, LLC are among the joint book-running managers for this bond issue. Other co-lead managers include Lloyds Securities Inc., SMBC Nikko Securities America, Inc., Samuel A. Ramirez & Co., Inc., TD Securities (USA) LLC, Drexel Hamilton, LLC, Mischler Financial Group, Inc., and PricewaterhouseCoopers LLP.