MBNA America Bank, N.A. Securitizes $750 Million of Credit Card Receivables14 April 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 $750 million in credit card asset backed notes.
The Class A (2005-1) tranche consists of $750 million fixed rate asset backed notes. The three-year 4.20% Class A (2005-1) notes were priced at 99.97408% to yield 4.246%.
The transaction, which is scheduled to close on April 20, 2005, was joint-lead managed by Credit Suisse First Boston and JPMorgan and co-managed by Banc of America Securities LLC, Barclays Capital, Citigroup, Merrill Lynch & Co., and Morgan Stanley.
About MBNA Corporation
MBNA (NYSE: KRB), the largest independent credit card lender in the world and the recognized leader in affinity marketing, is an international financial services company providing 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. For more information, visit the company's web site at http://www.mbna.com.
Source: PR Newswire
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