WILMINGTON, DE — 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 $150 million in credit card asset backed notes.
The Class C (2005-2) tranche consists of $150 million floating rate asset backed notes. The five-year Class C (2005-2) notes were priced at par and will accrue interest at 35 basis points over the one-month London Interbank Offered Rate (“LIBOR”).
The transaction, which is scheduled to close on September 22, 2005 was lead managed by Lehman Brothers and co-managed by Deutsche Bank Securities and Merrill Lynch & Co.
