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MBNA AMERICA BANK, N.A. CONTINUES TO DIVERSIFY FUNDING SOURCES; CLOSES $100 MILLION THREE-YEAR DEPOSIT NOTES

 MBNA AMERICA BANK, N.A. CONTINUES TO DIVERSIFY FUNDING SOURCES;
 CLOSES $100 MILLION THREE-YEAR DEPOSIT NOTES
 NEWARK, Del., Dec. 18 /PRNewswire/ -- MBNA America Bank, N.A. announced today that it has established a $1 billion Medium Term Deposit Note and Bank Note Program.
 The $1 billion program has initially been structured to permit the issuance, from time to time, of up to $750 million of medium term deposit notes and $250 million of bank notes. In this new program, MBNA America Bank, N.A. expects to continually issue deposit notes and bank notes with maturities from nine months to 15 years, as part of the bank's strategy of establishing and maintaining diversified funding sources.
 The bank also announced that it has issued $100 million of medium term deposit notes under this program. The deposit notes were underwritten by a syndicate led by Lehman Brothers including The First Boston Corp., J.P. Morgan Securities, and Merrill Lynch. The three-year deposit notes issued under this program were priced at 90 basis points over the three-year treasury note, have a 6.25 percent coupon, and are priced at 99.875 to yield 6.296 percent.
 MBNA Corporation (NYSE: KRB), a bank holding company, is the parent of MBNA America Bank, N.A., a national bank with $8.2 billion in managed loans to more than 7 million customers nationwide. MBNA, the country's third largest lender through bank credit cards, also provides retail deposit, individual loan, card acceptance, and financial transaction processing services. The company is endorsed by more than 1,450 membership organizations and 750 financial institutions.
 /delval/
 -0- 12/18/91
 /CONTACT: David W. Spartin, senior vice president of MBNA, 800-362-6255, or 302-456-8588/
 (KRB) CO: MBNA Corporation ST: Delaware IN: FIN SU:


KA -- PH025 -- 3559 12/18/91 16:19 EST
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Publication:PR Newswire
Date:Dec 18, 1991
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