Credit card transactions continued to dominate the issuance tally last week. The American Express Credit Account Master Trust, Series 2008-2 came to market with a $1.2 billion transaction. Lead managers were Barclays Capital, Citigroup Global Markets and JPMorgan Securities. The 10-year notes priced at the one-month Libor plus 126 basis points.
On Feb. 15, the Citibank Credit Card Issuance Trust, 2008-A2 priced, and was managed by Citigroup. The $1.8 billion deal snagged triple-A ratings and came in at one-month Libor plus 115 basis points. Aside from those deals, Bank of America Securities was said to be acting as lead manager on two pending deals totaling $650 million: the Chester Asset Receivables, series 2008-A1 and 2008-A2.