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.
