Even though many in the market were basking in Barcelona last week, the U.S. primary ABS market made a respectable showing with just over $12 billion in new issuance circulating. Real estate ABS, in particular, had a busy week, with $6.37 billion either priced or marketing as of Thursday's close.

GE Capital Corp. finally completed its inaugural $952.5 million retail credit card offering via Credit Suisse First Boston and JPMorgan Securities. Based on pricing levels for the three-year deal, the first-time issuer is viewed as top-tier.

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