Summary
American Express Company (AXP) filed an 8-K on December 4, 2006, to report on the remarketing of its 1.85% convertible debentures due 2033. The company successfully remarketed an aggregate principal amount of $1,580,143,000 of these debentures. This action was taken in accordance with a prospectus supplement filed on December 1, 2006, and an underlying registration statement on Form S-3. The remarketing was facilitated through an agreement with J.P. Morgan Securities Inc., Lehman Brothers Inc., and Merrill Lynch, Pierce, Fenner & Smith Incorporated.
Key Highlights
- 1AXP completed a significant remarketing of its 1.85% convertible debentures due 2033.
- 2The aggregate principal amount remarketed was $1,580,143,000.
- 3The transaction was conducted under an existing Form S-3 registration statement.
- 4A prospectus supplement dated December 1, 2006, governed the terms of the remarketing.
- 5The remarketing was executed through a specific agreement with major financial institutions: J.P. Morgan, Lehman Brothers, and Merrill Lynch.