Glacier Credit Card Trust issues $264,551,000 of five-year medium term notes

TORONTO, Nov. 27, 2013 /CNW/ - Glacier Credit Card Trust ("Glacier") announced today the issuance of $264,551,000 of medium term notes comprised of $250,000,000 of Series 2013-1 Senior Notes and $14,551,000 of Series 2013-1 Subordinated Notes.  The notes will mature on November 20, 2018.

The Series 2013-1 Senior Notes will bear interest at a fixed rate of 2.755%.  The Series 2013-1 Subordinated Notes will bear interest at a fixed rate of 3.275%.

The Series 2013-1 Senior Notes have been rated AAA (sf) by each of Standard & Poor's Ratings Services and DBRS Limited. The Series 2013-1 Subordinated Notes have been rated A (sf) by each of these rating agencies.

The Trust will use all of the proceeds of the offering to purchase the Series 2013-1 Ownership Interest from Canadian Tire Bank.

BMO Nesbitt Burns Inc. and Scotia Capital Inc. were the co-lead agents for the transaction.  The other syndicate members for the Series 2013-1 Senior Notes were CIBC World Markets Inc., TD Securities Inc., RBC Dominion Securities Inc., Desjardins Securities Inc., HSBC Securities (Canada) Inc. and National Bank Financial Inc.

Glacier was established to purchase undivided co-ownership interests in a revolving pool of credit card receivables from Canadian Tire Bank, a wholly-owned subsidiary of Canadian Tire Financial Services Limited.  These receivables are generated from the use of Canadian Tire MasterCard® credit cards and Canadian Tire retail credit cards.

SOURCE: Glacier Credit Card Trust

For further information:

Media:
Amy Cole
(416) 544-7655
Amy.Cole@cantire.com

Investors:
Candace MacLean
(416) 480-3842
candace.maclean@cantire.com

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Glacier Credit Card Trust

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