Glacier Credit Card Trust closes $570 million public securitization
Date Closed
November 24, 2006
Lead Office
Toronto
Value
570.00 Million CAD
On November 24, 2006, Glacier Credit Card Trust, as issuer, Canadian Tire Bank, as seller, and an underwriting syndicate, which included CIBC World Markets Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc., Merrill Lynch Canada Inc., National Bank Financial Inc. and TD Securities Inc., closed a C$570 million public securitization. The notes issued by the trust were backed by a pool of credit card receivables originated by or assigned to Canadian Tire Bank, a direct wholly-owned subsidiary of Canadian Tire Financial Services Limited and an indirect, wholly-owned subsidiary of Canadian Tire Corporation, Limited.
McCarthy Tétrault LLP represented Glacier Credit Card Trust with a team led by Marc MacMullin.