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Article: Advanta Prices $400 Million Revolving Home Equity Loan Securitization.
- Article from:
- Business Wire
- Article date:
- April 19, 2000
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Business Editors
SPRING HOUSE, Pa.--(BUSINESS WIRE)--April 19, 2000
Advanta Corporation (NASDAQ: ADVNB; ADVNA) announced today that its wholly-owned subsidiary, Advanta Conduit Receivables, Inc., has priced a $400 million revolving home equity loan securitization, backed by home equity loans principally originated by Advanta National Bank and Advanta Bank Corp. The transaction is expected to close on or about April 27, 2000.
Advanta Revolving Home Equity Loan Trust 2000-A consists of adjustable rate revolving home equity loans which back a single class of floating rate notes. Bear, Stearns & Co. Inc. is the lead underwriter and Morgan Stanley ...