Retailer Saks Inc. plans to securitize approximately $200 million of private-label credit card receivables in the coming weeks, market sources told ASR. Saks, formerly Proffitt's, has not tapped the U.S. asset-backed market since July 1999, when it sold $310.275 million of 1999-1 notes via the lead of Banc of America Securities.

The trust had $221.5 million of credit card-backed notes roll off in May, according to Barclays Capital credit card analyst Juliet Jones, signaling the need to securitize.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.