HORSHAM, Pa. -- Advanta Corp's credit card subsidiary, Colonial National Bank USA, completed a $350 million securitization.

Advanta said the certificates issued by Advanta Credit Card Master Trust II are at a floating rate with a current coupon of about 4.65% and a weighted average life of about 30 months.

The certificates were sold in a private placement. Advanta said it expects the single class of certificates to be rated AA by Standard & Poor's and Aa2 by Moody's Investors Service Inc.

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