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MBNA AMERICA BANK, N.A. SECURITIZES $1 BILLION OF CREDIT CARD RECEIVABLES USING FLOATING RATE STRUCTURE

 NEWARK, Del., Nov. 30 /PRNewswire/ - MBNA Corporation (NYSE: KRB) announced today that MBNA America Bank, N.A., its wholly owned subsidiary, priced the issuance of $1 billion of floating rate, five- year AAA/Aaa rated securities.
 The MBNA Master Credit Card Trust Series 1993-4 ("MBNA 1993-4") is backed by credit card receivables originated and serviced by MBNA. The securities will float at 25 basis points over the one month London Interbank Offered Rate (LIBOR) and carry a 12 percent coupon cap. The securities were priced at 99.953125 percent to yield LIBOR plus 26 basis points and will settle on Dec. 7, 1993. This is the twentieth transaction by MBNA America Bank, N.A. and the fourth public securitization in 1993. The transaction was lead managed by Lehman Brothers and co-managed by First Boston and J.P. Morgan Securities.
 MBNA 1993-4 represents the second securitization using MBNA's $5 billion credit card asset backed security shelf program. The Trust is credit enhanced by a 10.5 percent Cash Collateral Account, a structure pioneered by MBNA.
 MBNA Corporation, a bank holding company, is the parent of MBNA America Bank, N.A., a national bank with $11.3 billion in managed loans. MBNA, the country's second largest lender through bank credit cards, also provides retail deposit, individual loan, card acceptance, and financial transaction processing services.
 /delval/
 -0- 11/30/93
 /CONTACT: David W. Spartin, senior executive 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:

JM -- PH020 -- 8798 11/30/93 13:41 EST
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Publication:PR Newswire
Date:Nov 30, 1993
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