CINCINNATI - Federated Department Stores Inc. said its credit card affiliate has filed a registration statement with the Securities and Exchange Commission for a securitization vehicle to replace its existing facilities.

Federated's proposed master trust would issue a series of receivable-backed debt securities.

The total amount is yet to be determined, but the facility has been structured initially to support the issuance from time to time of about $1.5 billion of securities. About $1 billion would mature in five to seven years, and the rest sooner.

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