Date Closed

July 25, 2012

Lead Office

Toronto

Value

1.15 Billion USD

On July 25, 2012, Golden Credit Card Trust, a Canadian special purpose issuer, closed its offerings of US$1.15 billion aggregate principal amount of Credit Card Receivables Backed Senior Notes.  The notes were issued in two series: a floating rate series (Series 2012-3) with US$650 million aggregate principal amount of Credit Card Receivables Backed Senior Notes and a fixed rate series (Series 2012-4) with US$500 million aggregate principal amount of Credit Card Receivables Backed Senior Notes. The offerings of the notes were made in the United States pursuant to Rule 144A under the U.S. Securities Act of 1933. The Lead Bookrunner for the senior notes of both series was RBC Capital Markets, LLC. 

Both series of notes are backed by a related co-ownership interest in a pool of Canadian credit card receivables originated by Royal Bank of Canada.  Golden Credit Card Trust purchased such co-ownership interests from Royal Bank of Canada with the proceeds of the issuance of the notes, and Royal Bank of Canada is the servicer of the pool of credit card receivables.

Golden Credit Card Trust, headquartered in Toronto, Ontario, is engaged in the purchase and acquisition of interest in a revolving pool of credit card receivables and related assets.

McCarthy Tétrault LLP represented Golden Credit Card Trust, the issuer, and Royal Bank of Canada, the seller, with a team led by Marc MacMullin.