Advanta Corp. announced Tuesday that it had priced its first revolving home equity loan trust. The $50 million trust will consist of adjustable-rate lines of credit and yield 23 basis points over one-month Libor.
Advanta is one of the nation's largest credit card issuers. In 1995 it began offering home equity loans, said Milt Riseman, president of Advanta Mortage Corporation USA, in a press release. Recently several credit card specialists have begun offering customers home equity loans to help them consolidate their debts.