© 2024 Arizent. All rights reserved.

New U.K. Credit Card Deal Joins Primary Pipeline

Barclays Bank 's Gracechurch Card Program Funding will issue its sixth deal under its medium-term note program.

The transaction called Gracechurch Card Program Funding PLC Series 2011-3 will be backed by credit card receivables from designated MasterCard and Visa revolving credit card accounts originated or acquired in the U.K. by Barclaycard, a business unit of Barclays Bank.

Moody's Investors Service has rated the capital structure which will offer two classes of 'Aaasf' rated notes offering investors one tranche of €100 million ($144 million) notes and one tranche of £100 million ($162 million) notes for a total of £190 million. 

For further preliminary information on the transaction, please click on the link below from the ASR Scorecards database.

For reprint and licensing requests for this article, click here.
Consumer ABS
MORE FROM ASSET SECURITIZATION REPORT