American Express in $3.0 Billion Debt Offering and $500 Million Stock Offering

June 12, 2009

Cleary Gottlieb acted as underwriter’s counsel in a $3.0 billion debt offering by American Express Company, the proceeds of which are slated to pay back preferred shares issued to the U.S. Department of the Treasury as part of TARP. The debt deal closed May 18.

Cleary Gottlieb also acted as issuer’s counsel in a $500 million common stock offering by American Express that was issued as part of satisfying the requirements to repay TARP funds. The common stock deal closed June 5, with a green shoe closing on June 12.