Citibank priced its $1.75 billion credit card securitization, Citibank Credit Card Issuance Trust, Class 2013-A1 today making it the second deal to price this week.
The, 1.97-year, class A notes rated ‘AAA’ by Fitch Ratings priced at 10 basis points over the one month Libor, according to a source familiar with the deal.
The Citibank deal is underwritten by Citigroup, BofA Merrill Lynch and Credit Suisse.
Fitch said in its presale report on the deal that the latest issue makes 24 tranches of class A notes outstanding under CCCIT. The total invested amount of notes outstanding is approximately $23.52 billion, consisting of $18.49 billion of class A notes, $1.51 billion of class B notes, $1.84 billion of class C notes, and $1.68 billion series 2009 certificate.
Discover priced its deal on Monday. The triple-A rated, 2.94 –year, class A notes priced at 18 basis points over the one month Libor.