Advanta Corp. is gearing up for the third quarter with two wrapped home equity loan transactions that should total upwards of $750 million.

One deal will be a $500 million offering that will be issued from the lender's closed-end HEL program. Salomon Smith Barney is expected to lead this transaction in keeping with Advanta's tradition of alternating between Salomon and Morgan Stanley Dean Witter on these types of HEL offerings.

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