MBNA America Bank, N.A. Securitizes $400 Million of Credit Card Receivables from the MBNA Credit Card Master Note Trust

Published on:
 12 September 2006 at 10:20 a.m. ET

Sept. 12, 2006, 10:20 a.m. insideARM.com The iA Institute
Written by: Unknown Author –

http://www.insidearm.com/news/00014258-mbna-america-bank-na-securitizes-400-mill/

MBNA Corporation and its wholly owned subsidiary, MBNA America Bank, N.A. announced today that, through the MBNA Credit Card Master Note Trust, it will issue $400 million in credit card asset backed notes.


The Class A(2005-10) tranche consists of $400 million floating rate asset backed notes. The 7.5-year Class A(2005-10) notes were priced at par and will accrue interest at 6 basis points over the one-month London Interbank Offered Rate (“LIBOR”).


The transaction, which is scheduled to close on November 29, 2005 was joint-lead managed by Banc of America Securities LLC and Credit Suisse First Boston.


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