On June 10, 2004, Gloucester Credit Card Trust, as issuer, MBNA Canada Bank, as seller, and an underwriting syndicate, which included BMO Nesbitt Burns Inc., CIBC World Markets Inc., Scotia Capital Inc., RBC Dominion Securities Inc. and TD Securities Inc., closed a $300 million public securitization transaction. The notes issued by Gloucester Credit Card Trust were backed by a pool of credit card receivables originated by MBNA Canada Bank.
This transaction was the seventh public securitization for Gloucester Credit Card Trust and MBNA Canada Bank, which is a wholly owned subsidiary of MBNA America Bank, NA—the world’s largest independent credit card issuer.
Gloucester Credit Card Trust and MBNA Canada Bank were represented by McCarthy Tétrault, with a team comprised of Marc MacMullin, François Gilbert and Dean Masse (corporate), and Gabrielle Richards and Jim Warnock (tax).
The underwriters were represented by Torys, with a team comprised of Michael Feldman and Victoria Carrier (corporate) and John Tobin (tax).
This transaction was the seventh public securitization for Gloucester Credit Card Trust and MBNA Canada Bank, which is a wholly owned subsidiary of MBNA America Bank, NA—the world’s largest independent credit card issuer.
Gloucester Credit Card Trust and MBNA Canada Bank were represented by McCarthy Tétrault, with a team comprised of Marc MacMullin, François Gilbert and Dean Masse (corporate), and Gabrielle Richards and Jim Warnock (tax).
The underwriters were represented by Torys, with a team comprised of Michael Feldman and Victoria Carrier (corporate) and John Tobin (tax).
