MBNA America Bank, N.A. Securitizes $400 Million of Credit Card Receivables from the MBNA Credit Card Master Note Trust22 November 2005
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. About MBNA Corporation MBNA (NYSE: KRB), the largest independent credit card lender in the world and a recognized leader in affinity marketing, is an international financial services company providing direct lending, deposit, and credit insurance products and services. MBNA credit cards and related products and services are endorsed by more than 5,000 organizations worldwide. MBNA and Bank of America have announced their intention to merge operations, pending regulatory approval. The merger is expected to close in early January 2006. For more information, visit the company's web site at http://www.mbna.com.
Source: PR Newswire
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