Barclays Bank, operating under its trading name Barclaycard, is planning its first credit card securitization of the year, according to a presale report published by Standard & Poor’s.

Gracechurch Card Programme Funding PLC’s series 2014-1, which has yet to be sized, will be backed by Visa, American Express, and MasterCard receivables.  Gracechurch is a UK credit card master trust that Barclays established in 1999.  While it may be Barclaycard’s first transaction of 2014, the company has issued 15 series in the master trust since its foundation.

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