Chase Manhattan Corp.
Chase Manhattan Corp. issued $750 million in securities backed by credit card receivables.
The yield on the issue, which was lead-managed by Chase Securities Inc., was set at 7.732%, or 76 basis points over the average yield of three- to five-year Treasuries.
This is the third card-backed deal for Chase this year after it first entered the market late in 1990. Chase will probably be back in the market in 1992, according to Patricia Lynott Bonan, a managing director at Chase Securities. The bank has also filed a registration with the Securities and Exchange Commission to issue securities backed by automobile loans.