NewDay, a newcomer to the U.K. securitization market, priced £293 million ($458 million) of bonds backed by credit card receivables last week.

The senior notes, issued from NewDay’s trust, NewDay Partnership Funding, priced at 75 basis points over one-month Libor, at the tight end of guidance, according to Standard & Poor’s. The notes are rated  ‘AAA’ by S&P and are structured with a weighted average life of three-years.

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