In total the three deals, all backed by credit card receivables, will total $2 billion.
Discover Bank plans to issue $750 million of securities with a backed by of credit card receivables from its Discover Card Execution Note Trust 2015-2.
The class A notes have a preliminary 'AAA' rating from Fitch Ratings.
Deutsche Bank and RBC Capital Market are the lead managers on the deal, called Discover Card Execution Note Trust 2015-2.
The notes are structured with a weighted average maturity date of five years and benefit from credit enhancement of 24.5%. In February, the issuer sold $950 million of triple-A rated, three-year notes at 35 basis points over one month Libor.
With the inclusion of this deal, the issuer has a total of $22.53 billion of notes outstanding, which consists of $16.40 billion of class A notes, $1.51 billion of class B notes, $1.92 billion of class C notes, and $2.60 billion of class D notes.
Bank of America plans to issue $750 million of securities backed by credit card receivable in the issuer second transaction of 2015.
Fitch assigned preliminary AAA’ ratings to the class A, 3-year notes. The notes benefit from 31.75% credit enhancement. Bank of America Merrill Lynch is the lead underwriter on the transaction called BA Credit Card Trust 2015-2.
Including its latest transaction, 2 tranches of class A notes will be outstanding under the BA Credit Card Trust, according to a Fitch presale. The total invested amount of notes outstanding will be approximately $17.9 billion, consisting of $10 billion of class A notes, including the Emerald Notes Program, which is currently unfunded, $3.5 billion of class B notes, $1.9 billion of class C notes and $2.3 billion of class D notes.
Chase is marketing $500 million of class A, AAA’ rated credit card securities in the issuer’s third deal of 2015. The 2-year, 2015-3 notes benefit from credit enhancement of 14%, according to Fitch. JP Morgan Securities, Mitsubishi UFJ Securities and Wells Fargo Securities
With the inclusion of its latest deal, Chase now has 35 tranches of class A notes outstanding under Chase’s issuance trust. The total invested amount of notes outstanding will be approximately $37.7 billion, consisting of $30.2 billion of class A notes, $3.8 billion of class B notes and $3.7 billion of class C notes.