Banco de Galicia y Buenos Aires S.A. is getting ready to launch Tarjeta Naranja Credit Card Trust IV, the fourth securitization of credit card receivables for its subsidiary Tarjeta Naranja.
The $35 million deal mirrors its three predecessors launched in December 1998, June 1999 and October 1999. The notes were rated triple-A in the local scale by Fitch IBCA and Magister Thomson Bankwatch and will yield approximately 12%.
Tarjeta Naranja enjoys widespread popularity in Argentina's provinces such as San Juan, Catamarca, Salta and Tucuman., where borrowers are normally more reluctant to apply for credit cards.
