U.K. credit card issuer NewDay plans two offer two series of notes backed by its receiveables through a new trust, NewDay Partnership Funding, according to Standard & Poor's.

The originator provides store cards and general-use branded credit cards to U.K. retailers including Arcadia, Debenhams, House of Fraser, Laura Ashley, Asda, Comet and DFS. NewDay acquired the entire co-branded portfolio from Santander U.K. in 2013.

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