Citigroup Preps $1.5 Bln Credit Card Securitization

17 Dec 2009

Citigroup reportedly is preparing to offer a $1.5 billion credit card securitization.

Citigroup reportedly is preparing to offer a $1.5 billion credit card securitization. Sources said the three-year deal, which is not being marketed under the Federal Reserve’s Term Asset-Backed Securities Loan Facility, is AAA rated and expected to price around 60 basis points over swaps.

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