Wed, Aug 14, 8:11 PM (114 days ago)
On August 13, 2024, World Financial Network Credit Card Master Note Trust issued $500,000,000 of Series 2024-B Class A Asset Backed Notes, following the registration statement declared effective on April 21, 2022. The public offering, priced at approximately $499.99 million, was underwritten by major financial institutions including RBC Capital Markets and J.P. Morgan. After deducting underwriting fees of $1.5 million and estimated additional expenses of $1 million, net proceeds were approximately $497.5 million. These proceeds will be utilized to reduce the outstanding principal of existing variable funding notes and for general corporate purposes. The transaction is expected to positively impact the issuer's financial position by reducing debt levels. The Series 2024-B Indenture Supplement was filed as part of this event, with no significant changes in leadership or corporate structure noted in the report. This issuance reflects ongoing activity in asset-backed securities, indicating a stable market environment.