Advanta Reports On Purchase of Medium-Term Notes.Business Editors SPRING HOUSE, PA--(BUSINESS WIRE)--April 9, 2001 Advanta Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ADVNB; ADVNA ADVNA Advanta Corporation (stock symbol) ) announced today that $237.7 million of medium-term notes Medium-term note (MTN) A corporate debt instrument that is continuously offered to investors over a period of time by an agent of the issuer. Investors can select from maturity bands of: 9 months to 1 year, more than 1 year to 18 months, more than 18 months to 2 years, etc. have been tendered in response to the tender offer which was announced March 7, 2001 and which closed April 2, 2001. When additional untendered medium-term notes mature on May 1, 2001, Advanta will have reduced its outstanding institutional debt by approximately $319 million since December 31, 2000, a significant step in deleveraging the Company. Of the remaining $25 million of institutional debt outstanding, $24.8 million matures between June 2001 and September 2001. Advanta is a highly focused financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company which has been providing innovative financial solutions since 1951. Advanta leverages its first-class direct marketing and information based expertise to develop state-of-the-art data warehousing See data warehouse. data warehousing - data warehouse and statistical modeling tools that identify potential customers and new target markets. Over the past five years, it has used these distinctive capabilities to become one of the nation's largest issuers of MasterCard business credit cards to small businesses. Learn more about Advanta at www.advanta.com. |
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