GE Capital has filed an S-3 with the Securities and Exchange Commission (SEC) dated May 16 to issue under its GE Capital Credit Card Master Note Trust.
To view the company's full filing with the SEC, please click this link.
In other credit card deal news, this week JPMorgan Chase sold a $1.6 billion 'AAA'-rated two-year deal from its Chase Issuance Trust (CHAIT). According to Wells Fargo analysts, the credit card ABS was met with good investor demand, which caused the deal to be upsized by $600 million to $1.6 billion.
Analysts said that even though this deal has given some liquidity boost to the firm as it is caught up with trading-loss headlines, it merely offsets the CHAIT ABS' significant maturity schedule in 2012. In the past two months, $5.75 billion of CHAIT ABS have matured and an added $2.7 billion is scheduled to mature in June, analysts reported.