Citibank is planning to reopen a series of credit card backed notes originally issued in February, Class 2014-A2 according to a regulatory filing.
The new offering of class 2014-2 notes from the Citibank Credit Card Issuance Trust has yet to be sized. The notes will mature on the same date as the original 2014-2 notes, in February 2019, and will be fully fungible with the $1.5 billion in outstanding.
However, Citibank will only issue the notes if they receive triple-A ratings from Moody’s Investors Service and Standard & Poor’s, respectively.
The lead underwriters for the latest deal are Citigroup, BofA Merrill Lynch and Mitsubishi UFJ Securities.
Price talk on the new notes is for a spread of swaps plus 22 basis points, according to Interactive Data; that is inside of the swaps plus 25-basis point spread on the original offering.