Summary
American Express Company (AXP) filed a Form 8-K on May 22, 2013, primarily to report the issuance of new debt securities. Specifically, the company issued U.S.$1,000,000,000 aggregate principal amount of 1.550% Notes due May 22, 2018, and U.S.$850,000,000 aggregate principal amount of Floating Rate Notes due May 22, 2018. These issuances were made under a Prospectus Supplement dated May 15, 2013, which was filed in conjunction with the company's existing Registration Statement on Form S-3. This filing indicates AXP's active management of its capital structure and its ability to access debt markets to raise significant funds. Investors should note the specific coupon rates and maturity dates of these notes, as they represent new long-term liabilities for the company.
Key Highlights
- 1AXP issued $1.0 billion in 1.550% Notes due May 22, 2018.
- 2AXP issued $850 million in Floating Rate Notes due May 22, 2018.
- 3The debt issuance occurred on May 22, 2013.
- 4The securities were issued under a Prospectus Supplement dated May 15, 2013.
- 5The issuance is part of AXP's Registration Statement on Form S-3 (No. 333-185242).
- 6This filing is considered an 'other event' under Item 9.01 of Form 8-K, related to financial statements and exhibits.
- 7Exhibits filed include legal opinions and consents related to the issuance.