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MBNA AMERICA BANK, N.A. SECURITIZES $500 MILLION OF CREDIT CARD RECEIVABLES

 MBNA AMERICA BANK, N.A. SECURITIZES
 $500 MILLION OF CREDIT CARD RECEIVABLES
 NEWARK, Del., July 30 /PRNewswire/ -- MBNA Corporation (NYSE: KRB) announced today that MBNA America Bank, N.A., its wholly owned subsidiary, priced the issuance of $500 million 6.20 percent AAA/Aaa rated securities of MBNA Master Credit Card Trust Series 1992-2 ("MBNA 1992-2") backed by credit card receivables originated and serviced by MBNA.
 The securities were priced at 99.84375 to yield 6.26 percent or 50 basis points above the five-year Treasury note. This is the 15th transaction by MBNA America Bank, N.A. and the second public securitization in 1992. The transaction was lead managed by Lehman Brothers and co-managed by Merrill Lynch & Co.
 This is the third issuance by MBNA using the Master Trust structure. The Master Trust permits the addition of new accounts which provides MBNA with greater flexibility for future issuances under the Master Trust. The Trust is credit enhanced by a 10 percent Cash Collateral Account.
 The Cash Collateral Account structure pioneered by MBNA has become the predominant credit enhancement structure in the market. This structure eliminates event risk associated with the downgrading of a letter of credit bank.
 MBNA Corporation, a bank holding company, is the parent of MBNA America Bank, N.A., a national bank with $8.9 billion in managed loans to 8 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 1,700 membership organizations and 950 financial institutions.
 /delval/
 -0- 7/30/92
 /CONTACT: David W. Spartin, senior vice president-investor relations of MBNA, 800-362-6255, or 302-456-8588/ CO: MBNA Corporation; MBNA America Bank, N.A. ST: Delaware IN: FIN SU:


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Publication:PR Newswire
Date:Jul 30, 1992
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