NEW YORK - A unit of Household International has securitized more than $1 billion of receivables from the General Motors Corp. credit card program, said CS First Boston, the lead manager. Household Affinity Credit Card Master Trust I issued receivables-backed securities in four parts.
They consisted of $500 million class A 5.60% senior certificate, $500 million class A certificates at the London interbank offered rate plus 17 basis points, $29.4 million of class B 5.90% certificates, and $29.41 million of class B 4.95% certificates.
