Royal Bank of Canada and private-label credit-card issuer World Financial Network are planning new series of notes totaling more than $1.4 billion through their respective card master trust vehicles, according to rating agency presale reports.

The $1 billion RBC transaction, Golden Credit Card Trust 2017-4, is a cross-currency transaction that will include a senior tranche with preliminary AAA ratings by Fitch Ratings and S&P Global Ratings, as well as two subordinate tranches that will be retained by RBC for risk retention purposes.

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