Citigroup Preps $1.5 Bln Credit Card Securitization

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

  • 17 Dec 2009

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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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 15,256 32 16.83
2 Bank of America Merrill Lynch (BAML) 10,179 30 11.23
3 Citi 9,751 23 10.76
4 Lloyds Bank 7,329 24 8.09
5 JP Morgan 6,580 10 7.26

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4 Credit Suisse 534.82 2 8.88%
5 SG Corporate & Investment Banking 497.64 2 8.26%