New issuance this week totaled $6.715 billion, down a touch from last week's $7 billion total. There were notable issues, however including the first triple-A senior class from the new "MBNAseries" credit card-backed program and Conseco Inc.'s first foray into the credit card sector.

Following last week's sale of $500 million of single-A rated and triple-B rated subordinated paper, MBNA Corp. completed the sale of the first senior class from the new program. Pricing last Thursday, MBNA sold $1 billion of a five-year fixed-rate senior class, which was de-linked from the credit enhancing subs.

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