Business Context and Reporting Period
This Form 8-K Current Report was filed by American Express Company on December 4, 2006, covering events occurring on December 1, 2006. The filing addresses a specific corporate finance transaction under Item 8.01 (Other Events).
Key Financial Metrics
The filing details a debt remarketing transaction rather than providing comprehensive financial statements. Key metrics disclosed include:
- Debt Instrument: 1.85% Convertible Debentures due 2033.
- Transaction Amount: $1,580,143,000 aggregate principal amount.
- Underwriters: J.P. Morgan Securities Inc., Lehman Brothers Inc., and Merrill Lynch, Pierce, Fenner & Smith Incorporated.
The filing text does not provide clear values for revenue, profit, cash flow, margins, or overall liquidity positions.
Material Changes
The primary material change reported is the successful remarketing of the specified convertible debentures. This action modifies the company's outstanding debt structure by extending or reissuing the principal amount under the terms of the prospectus supplement dated December 1, 2006.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or specific risk factors beyond the standard disclosure of the debt transaction. No unusual items or contingencies are described in this report.
Investor Verification Checklist
- Verify the final terms and pricing of the remarketed 1.85% convertible debentures due 2033.
- Confirm the impact of this $1.58 billion transaction on the company's total debt load and interest expense.
- Review the full prospectus supplement (filed as part of Form S-3, Registration No. 333-138032) for conversion features and covenants.
- Check subsequent filings for the actual cash proceeds received and any associated transaction costs.