Capital One doubles down in credit card ABS

credit cards
By Ryan Bolger
24 Mar 2015

Capital One upsized its first credit card ABS issuance of the year, more than doubling the $500m in issuance the sponsor originally planned.

The issuance was increased to $1.25bn before pricing at 27bp over swaps on Monday, a yield of 1.39% for the notes set to mature in 2.96 years. Fitch and Standard & Poor’s assigned the deal preliminary triple-A ratings.

Credit Suisse structured the deal, and JP Morgan and ...

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