Discover's $600 Million Bond Priced At 1-Mo Libor+58BPS - Source
13 Settembre 2010 - 8:45PM
Dow Jones News
Discover Credit Card's $600 million bond has priced, according
to a person familiar with the matter.
The bond, which was increased in size from an original $500
million, sold at 58 basis points over one-month London interbank
offered rate, or Libor.
It is one of several asset-backed bonds that have emerged after
a three-week hiatus. Other issuers include Nissan Auto Owner
Receivables Trust with a $1 billion prime auto loan-backed deal,
BMW AG (BMW.XE) with a $750 million security, and AmeriCredit Auto
Receivables Trust with a $700 million bond.
All Student Loan Group has a $458.32 million student loan-backed
bond and Cabela's Inc. (CAB) has a $212.5 million credit
card-loan-backed bond, as well.
-By Anusha Shrivastava, Dow Jones Newswires; 212-416-2227;
anusha.shrivastava@dowjones.com
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