This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Alliance Data Closes $467 Million Of Term Asset-Backed Securities

DALLAS, Oct. 9, 2012 /PRNewswire/ -- Alliance Data Systems Corporation (NYSE: ADS), a leading provider of loyalty and marketing solutions derived from transaction-rich data, today announced that World Financial Network Credit Card Master Note Trust has issued $467 million of public, fixed-rate, term asset-backed securities.  The asset-backed securities were issued as part of the securitization program for Alliance Data's private label credit card banking subsidiary, Comenity Bank (formerly known as World Financial Network Bank).

(Logo: )

The securities consist of five classes of notes with an average life of just under 7 years and a weighted average fixed-rate of 2.25 percent. Approximately $390 million of the issuance was sold to investors. A subsidiary of Comenity Bank retained approximately $77 million of the subordinated bonds. The Class A Notes, which comprise $350 million of the $467 million, were rated AAA (sf) by S&P, Fitch and DBRS. The Class M, Class B and Class C subordinated bonds all achieved investment grade ratings from S&P, Fitch and DBRS.

J.P. Morgan, BofA Merrill Lynch and Credit Suisse were joint book runners for this offering.

Charles Horn, chief financial officer of Alliance Data, said, "Once again, we are very pleased to have placed long-term fixed-rate debt at historically low coupons.  We are proud to be a leader in the term ABS markets, having now issued over $10 billion of ABS notes since 1996.  Given the strong growth and performance we've experienced in our private label credit card business, we have now completed four public term ABS offerings this year.  With over $1.7 billion in issuance in 2012 alone, this marks our most active year ever.  Our objective remains to lock in longer-term funding at attractive levels in order to achieve a balanced funding structure and build greater visibility into our earnings, while creating excess liquidity for future growth."

About Alliance Data Alliance Data® (NYSE:ADS) and its combined businesses is North America's largest and most comprehensive provider of transaction-based, data-driven marketing and loyalty solutions serving large, consumer-based industries. The Company creates and deploys customized solutions, enhancing the critical customer marketing experience; the result is measurably changing consumer behavior while driving business growth and profitability for some of today's most recognizable brands. Alliance Data helps its clients create and increase customer loyalty through solutions that engage millions of customers each day across multiple touch points using traditional, digital, mobile and other emerging technologies. Headquartered in Dallas, Alliance Data employs nearly 9,000 associates at more than 50 locations worldwide.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.24 0.00%
FB $117.81 0.00%
GOOG $701.43 0.00%
TSLA $211.53 0.00%
YHOO $36.94 0.00%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs