AMEX Sells $3 Billion of Debt

American Express sells $3bn of debt
FT.com
By Saskia Scholtes in New York

Published: May 14 2009 00:22 | Last updated: May 14 2009 00:22

American Express sold $3bn of debt on Wednesday without a federal guarantee to help the credit card issuer repay government bailout funds.

AmEx joined a string of banks, including JPMorgan and Goldman Sachs, that have issued such debt in recent days after government stress tests found they did not need additional equity capital. US regulators have said banks that want to repay federal bail-out funds must be able to issue debt without government insurance.

FT.com / Companies / Financial Services – American Express sells $3bn of debt.

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