MBNA Securitizes $300 Million of Credit Card Receivables

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

Written by: Unknown Author –

http://www.insidearm.com/news/00016011-mbna-securitizes-300-million-of-credit-ca/

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 $300 million in credit card asset backed notes.

The Class C(2005-3) tranche consists of $300 million floating rate asset backed notes. The three-year Class C(2005-3) notes were priced at par and will accrue interest at 27 basis points over the one-month London Interbank Offered Rate (“LIBOR”).

The transaction, which is scheduled to close on October 20, 2005 was joint-lead managed by Deutsche Bank Securities and RBS Greenwich Capital and co-managed by Banc of America Securities LLC and Merrill Lynch & Co.

MBNA Securitizes $300 Million of Credit Card Receivables

Unknown Author

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