Comenity Bank, formerly World Financial Network Bank, plans to issue a $526.3 million securitization from its credit card master note trust.

RBC Capital Markets is the lead underwriter.

Standard & Poor’s and Fitch Ratings have assigned ratings to four classes of notes with a final maturity of March 2020; the $400 million Class A is rated ‘AAA’, the $22.3 million class M is rated ‘AA’, the $22.3 million Class B is rated ‘A+’ and the $60.5 million Class D is rated ‘BBB.’

The class A notes will be publicly offered, and the class M, B, C and D notes will be retained by the originator.

The notes are backed by a pool of receivables arising under Comenity Bank, private-label, revolving credit card accounts generated through private-label programs of multiple retailers. Comenity Bank is a wholly owned subsidiary of Alliance Data Systems.

The deal, World Financial Network Credit Card Master Note Trust, Series 2013-B, is Comenity’s second of 2013. In February it issued a $480 million deal.

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