AmEx makes ABS return with oversubscribed deal

By Sasha Padbidri
14 Feb 2017

Strong fundamentals and a rally in ABS spreads led bankers to increase the size of a credit card ABS transaction from American Express on Monday.

Leads RBC, Barclays, MUFG and Wells Fargo increased the initial size of the deal from $1.04bn to $3bn before pricing. The $2.3bn ‘A’ tranche of AMXCA 2017-1/2 deal was priced at 23bp over interpolated ...

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