Royal Bank of Canada is preparing two new issues of Canadian credit card receivables through its Golden Credit Card Trust vehicle.

According to presale reports from Fitch Ratings, Golden Credit Card Trust Series 2016-3 and 2016-4 will each include three classes of notes with the size of the issuance to be determined. The floating-rate Class A notes have been given an early ‘AAA’ rating by Fitch for each series, and will be offered in a rule 144A sale in the United States. The Class B notes (rated ‘A’) and Class C notes (rated ‘BBB+’) will be issued in Canadian dollars and retained by GCCT.

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