September 16, 2014 6:43 PM ET

Consumer Finance

Company Overview of American Express Credit Corporation

Company Overview

American Express Credit Corporation, together with its subsidiaries, is engaged in financing non-interest-earning card member receivables arising from the use of the American Express cards issued in the United States and internationally. It finances receivables arising from the American Express Green Card, the American Express Gold Card, Platinum Card, Corporate Card, and other American Express cards. The company also finances interest-earning revolving loans generated by card member spending on American Express credit cards issued. It serves consumers, small businesses, middle-market companies, and large corporations. The company was founded in 1962 and is based in New York, New York. Ameri...

200 Vesey Street

New York, NY 10285

United States

Founded in 1962

10 Employees

Phone:

866-572-4944

Key Executives for American Express Credit Corporation

Chief Executive Officer
President and Director
Chief Financial Officer
Chief Accounting Officer and Senior Vice President
Treasurer
Compensation as of Fiscal Year 2014.

American Express Credit Corporation Key Developments

American Express Credit Corporation Provides Earnings Guidance for the Six Months Ended June 30, 2014

American Express Credit Corporation provided earnings guidance for the six months ended June 30, 2014. For the period, the company expected to report net income of $177 million compared to $277 million for the six month period ended June 30, 2013.

American Express Credit Corporation Enters into Amendment to Unsecured Syndicate Credit Facility

On July 29, 2014, American Express Credit Corporation entered into an Amendment No. 2 dated as of July 29, 2014 to its unsecured AUD 4,500,000,000 syndicated credit facility dated as of August 3, 2011, as previously amended by Amendment No. 1 dated as of July 19, 2013 with Citisecurities Limited, as facility agent, Citibank, N.A., Sydney Branch, Commonwealth Bank of Australia, National Australia Bank Limited and Westpac Banking Corporation, as Mandated Lead Arrangers and Bookrunners, and the other lenders from time to time party thereto. The amendment to the Credit Facility provides that the maturity date of Tranche A of the Credit Facility, which provides the Company with a revolving credit facility with a borrowing capacity of AUD 2,000,000,000 will be extended from August 3, 2015 to August 3, 2017. The amendment also revises the applicable margins on interest rates on borrowings under Tranche A of the Credit Facility. No other material terms of the Credit Facility were affected. The foregoing description does not purport to be complete and is qualified in its entirety by reference to the amendment to the Credit Facility. Certain of the lenders under the Credit Facility, as amended, or their affiliates, have, and in the future may engage in business transactions with the Company or its affiliates and have provided, and may in the future from time to time provide, certain commercial and investment banking, financial advisory, and other services in the ordinary course of business for the Company and its subsidiaries, for which they have in the past and may in the future receive customary fees and commissions.

American Express Credit Corporation Provides Earnings Guidance for the Quarter Ended March 31, 2014

American Express Credit Corporation provided earnings guidance for the quarter ended March 31, 2014. For the quarter, the company expects to report a net income of $78 million compared to $111 million for the quarter ended March 31, 2013, provisions for losses of $61 million compared to $42 million for the quarter ended March 31, 2013. These results represent preliminary estimates for the quarter ended March 31, 2014.

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