Capital One Preps $500M Credit Card ABS

Published November 14, 2013, 9:45 a.m. EST

1 Min Read

Capital One is marketing $500 million of bonds backed by credit card receivables, according to ratings agency presale reports.

The deal, Capital One Multi-Asset Execution Trust 2013-3, consists of a single class A of three-year notes rated AAA’ by Standard & Poor’s and Fitch Ratings. It benefits from credit support of 17%.

The deal is expected to close Nov. 21.

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Barclays Capital, RBC Capital Markets, and Wells Fargo Securities are the underwriters.

The deals’ structure is unchanged from the previous offering of $700 million of class A notes in May.

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